First Time Buyer (April/May 2024)

Tags: magazine magazine first time buyer

Year: 2024

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Text

the Ultimate Guide to... GETTING ON THE LADDER, NEW HOMES AND SHARED OWNERSHIP
April/May
2024
£4.99
firsttimebuyermag.com

WIN!
A DENBY KILN
DINNER SET
FOR FOUR
WORTH £276
HAPPY
EASTER!
SAVE ON
ENERGY COSTS
UP-AND-COMING
REGENERATION
SPOTS

HOW TO PLAN
THE INTERIORS
OF YOUR FIRST
DREAM HOME

AFFORDABLE
HOMES AROUND
THE COUNTRY

“Keep a spreadsheet of your
income and outgoings –
it helps you forecast how much
you can save”
Rosaline Darlington
Florist and content creator

EDITOR’S LETTER

E D I T O R I A L – 020 3488 7754

Welcome

Editor-in-Chief SARAH GARRETT

sarahg@spmgroup.co.uk
Editor LYNDA CLARK

lynda@firsttimebuyermag.co.uk
Editorial Assistant and Head of
Special Events KATIE WRIGHT
Editorial and Special Events Assistant
SOPHIE MUNNERY
Creative Director RYAN BEAL
Sub Editor KAY HILL
Social Media KATIE WRIGHT, SOPHIE
MUNNERY
Contributors
CHRIS CLARK, DEBBIE CLARK, KAY HILL,
SOPHIE MUNNERY, LAURA DEANOSGOOD, CORALIE PHELAN,
GINETTA VEDRICKAS, STEPHEN WARD,
KATIE WRIGHT
A D V E RT I S I N G
020 3488 7754

At this time of the year it is always uplifting to look
forward to the new season, the warmer days ahead
and the Easter break. It is also the time that many
first time buyers make the big decision to get on to
the property ladder.
We are always advising first timers to consider
the location of where they would like to move to.
Looking at regeneration areas where money has
been spent on the infrastructure of the town or
city is always interesting, as buying in an up-andcoming area has many advantages. Do go to pages 24-28 where we
discover some real first time buyer hotspots in areas which have been
regenerated and we highlight some homes that are really affordable too.
Who can’t resist chocolate? With Easter approaching we have a roundup of the best Easter eggs available in the supermarkets (pages 78-79),
which will certainly cater for any chocoholics – enjoy!
The cost of living and the rise in energy prices has affected everyone
– I think the feature on pages 34-35 which shows that new build homes
are far more energy efficient will be of great interest. Anything to save
money in these hard times!
I hope you enjoy this issue which is packed with information and help
when buying your first home – enjoy!

Director of Advertising/Exhibition
Sales
LYNDA CLARK

lynda@firsttimebuyermag.co.uk
Special Events KATIE WRIGHT

– National Home Buying Week
– First Time Buyer Readers’ Awards

Until next time, happy house hunting.
I am sure that many of you have heard about the sad new of TV
presenter Jonnie Irwin’s passing. He was a great friend of mine and FTB
– I have written a small piece in memory of him on page 9 and I do hope
you will take the time to read it – thank you.

katie@firsttimebuyermag.co.uk
Accounts

@firsttimebuyermag

accounts@ultimateguidecompany.com

firsttimebuyeronline

Managing Director SARAH GARRETT

sarahg@spmgroup.co.uk
SUBSCRIPTIONS
020 3488 7754
SWITCHBOARD
020 3488 7754

EDITOR’S PICKS…

Interest rates are
starting to fall
again to a more
comfortable level.

All advertising copy for June/July 2024
must be received before 3 May 2024.
Send all copy to: lynda@firsttimebuyermag.co.uk
The content of this publication, either in whole or in part, may not be
reproduced, stored in a data retrieval system or transmitted in any form
or by any means, electronic, mechanical, photocopying or otherwise,
without prior permission from the publishers. Opinions expressed in
First Time Buyer magazine are not necessarily those of the publishers.
© The Ultimate Guide Company Ltd 2008-2024. The Ultimate Guide
Company Ltd t/a First Time Buyer magazine will take no responsibility
for any loss/claim resulting from a transaction with one of our
advertisers/media partners.

One of the
largest knock-on
effects is that
the longer the
mortgage term,
the older you
will be when
making the final
repayment.

Having done some
research, it seems
like a hidden north
London gem, which
we’re excited about.

Charlotte Nixon,
Finance, page 86

Kat Pilcher, House
Hunter, page 16

Lisa Westerman, 20
Questions, page 106

There’s been
a huge rise in
demand for
shared ownership
mortgages.

Don’t whinge
and moan but
be positive in
your outlook and
definitely make
a plan and stick
to it.
Melissa Porter, At
home with, page 14

Phillip WellardHughes, Agony
Agent, page 90

First Time Buyer April/May 2024

CONTENTS

APRIL/MAY 2024 / ISSUE 106 / FIRSTTIMEBUYERMAG.CO.UK

What’s in…
71

For sale
– the best FTB
properties

After being stuck in the rental trap for a very long
time, James Frater was trying to save for a deposit. He
discovered Horlicks Quarter in Slough, which he fell
in love with and bought a one bedroom apartment.
Now he loves everything about his new first home.

HOMEPAGE

Country, Countryfile and Get A
New Life on the BBC. She is also
a trained counsellor and life coach
and has recently published a
book, Mastering the Single Parent
Game. She talks to Lynda Clark
about buying her first home, her
interesting career and has some
excellent advice for first time buyers.

16 House Hunter
10 FTB Loves...
Celebrate Easter in style with our
round-up of our favourite hot buys.

We go on the hunt with Kat and
Frankie Pilcher who are on the
look out for their first home in
north London, close to good public
transport links.

12 Living
Supermarkets have branched
out selling some gorgeous home
accessories. So why not update
your interiors when doing the
weekly shop?

14 At home with:
Melissa Porter
Television presenter Melissa
has been on numerous
shows including Escape to the

4 First Time Buyer April/May 2024

FEATURED

18 Developer’s doctor
Kevin Sims, Sales & Marketing
Director at SO Resi, answers your
property question.

20 The View: Rosaline
Darlington
Rosaline Darlington is best known
for being on the most recent series
of Married at First Sight on E4. She
works as a florist and runs her own
businesses, Rosaline’s Flowers and
The Flower Paddock. She talks to
Lynda Clark about her fascinating
life, buying her first own home and
gives some great advice for first
time buyers.

24 Location Regeneration
We always advise first time buyers
to consider looking at regeneration
areas which are “on the up”.
Debbie Clark takes a look at
some regeneration hotspots and
highlights some ideal homes in
these up-and-coming areas.

34 The new build effect
Everyone has been affected by the
high cost of energy bills, but did
you know that buying a new build
home could save you thousands
of pounds a year in energy costs
compared with owning an older
property? We look at how it all
adds up.

36 Watch this space
Two entrepreneurs, Carla
Longworth and her partner
Tom Ingleton, have created an
innovative and unique new product
which will revolutionise bathrooms
and make it easy to refurbish.

CONTENTS

ROSALINE DARLINGTON, PAGE 20

I AM ALWAYS
THINKING UP
NEW WAYS TO
GROW THE BUSINESS
AND LOOKING AHEAD TO
WHAT I CAN DO
EACH SEASON

Rosaline
Darlington

REGULARS

Hotspot
We look at Bethnal
Green as a place
to live.

90 Agony Agent
All your property questions
answered by our panel of experts.

56 Hotspot
We look at Bermondsey as a place
to live.

78 The bunny is back!

93 Buyer’s Guide
Check out FTB’s Buyer’s Guide,
which walks you through the
property buying process.

Something for all the family – our
choice of the best Easter eggs in
the supermarkets now.

80 First home, first meal

Competition
Two lucky winners have the chance to win a
Denby dinner set for four from the company’s
Kiln Collection, worth £276

Chef and award-winning author
Theo Michaels has created this
recipe for a delicious all-in-one
spaghetti and meatball traybake –
perfect for all the family.

82 Jargon Busting
The second part of what the jargon
used when buying a home actually
means. Stephen Ward, Director
of Strategy and External Relations
at The Council for Licensed
Conveyancers, explains the terms
you might come across.

98 The conveyancing
process for staircasing
and resales
Coralie Phelan, Partner and Head
of New Build Homes at Prince
Evans Solicitors LLP, explains how
conveyancing works for resale
purchases and staircasing.

86 Finance

100 Directory

Mortgage terms are getting longer
in a bid to make buying a home
more affordable, but what are the
implications? Kay Hill investigates.

Check which scheme is right for
you, plus useful contacts.

88 Market
Ginetta Vedrickas looks at the extra
costs there might be when buying
your first home.

106 20 Questions
We ask 20 quick-fire questions to
a property expert and in this issue
Lisa Westerman, Director of Lisa
Westerman Consultancy and LWC
Sales & Lettings, is in the spotlight.

First Time Buyer April/May 2024

LETTERS

Mailbox

WRITE TO US!
Please send us your questions, comments
and suggestions concerning property, or
the articles in First Time Buyer magazine.
lynda@firsttimebuyermag.co.uk

LIFETIME ISA
I am currently looking at
the best way to save up
for a deposit to buy my
first property. I have seen
the Lifetime ISAs being
mentioned a few times, but
what is it and will it benefit me in my quest to gather
my deposit?
Sarah Brambert
FTB says: A Lifetime ISA (Individual Savings
Account) helps first time buyers save for
their initial home purchase by offering a 25%
Government bonus on savings, up to £1,000 per
year. It allows tax-free growth on savings, with a
maximum annual contribution of £4,000. Funds
can be used towards a property costing £450,000
or less, as long as it’s purchased with a mortgage.
While withdrawals are allowed at any time,
penalties apply if not used for a qualifying reason,
such as buying a first home. It’s a valuable option
for those aiming to get together a deposit, but
consulting a financial adviser is recommended to
ensure it aligns with individual financial goals.
The Traitors took over our TVs earlier in the
year; now this issue’
issue’s star letter prize winner
can step into the gripping world of the
popular BBC show in their own home with
The Traitors Card Game. Absorb yourself in
treachery!
the ultimate test of trust and treacher
Each player is given a role, with one
unlucky individual handed the poisoned
chalice and tasked with secretly becoming
The Traitor.
Traitor Can you deceive your fellow
players into believing that you are really one
of the Faithful?
Ideal for family gatherings, get-togethers
parties, this entertaining game
and dinner par
over.
accommodates 4+ players aged eight and over
Traitors Card Game, £11.99, available on Amazon

EPC RATING
While I know what an EPC
rating is, I’m not sure as to
why it is so important when
considering buying my first
property? I have been warned
to keep away from any property
with a low EPC rating, but why?
Thomas Xi
FTB says: An Energy
Performance Certificate (EPC)
rating is vital information when
purchasing your first home as it
indicates the property’s energy
efficiency, affecting your future

running costs, environmental
impact, and potential property
value. A higher EPC rating (A
or B for example) suggests
the home will have lower
energy bills, reduced carbon
emissions and potentially
increased property value.
Understanding the EPC rating
helps you budget accurately,
minimises environmental
impact, and may save you
money on future energyefficient upgrades, making it an
essential consideration in your
homebuying process.

TWO YEARS OR FIVE YEARS?
I am stuck between whether I should take out a two-year or a
five-year mortgage on my first home. Do you have any advice about
which to consider?
Holly White
FTB says: Deciding between a two-year or five-year mortgage really
depends on factors like interest rate projections, budget stability
and future plans. It isn’t something we can recommend either
way as everyone needs to make their own choice based on their
own judgement and advice. Two-year mortgages often offer lower
initial rates, potentially saving money if rates are expected to rise,
while five-year mortgages provide stability with fixed payments
over a longer term. You also must consider any penalties for early
repayment and how your future plans may impact your mortgage
needs. Assessing your financial situation, risk tolerance and,
probably most importantly, consulting with a mortgage adviser can
help you make the right choice and, in this case, is the best thing
you can do.

DISBURSEMENTS
Having saved up a deposit I
am now going through the
conveyancing process. My
conveyancer has mentioned
something called disbursements
but I’m not sure what they are
or what they mean. Any help to
save me the embarrassment of
having to ask about them would
be greatly appreciated!
Mark Ruforch
FTB says: Disbursements during
the conveyancing process refer
to the various expenses incurred
by solicitors or conveyancers on
behalf of their clients (in this
case you) during the property
transaction. These expenses are
separate from the fees charged
by the solicitor for their services

and typically include costs such
as search fees, Land Registry
fees, Stamp Duty, bank transfer
fees and any other expenses
related to obtaining information
or documents necessary for
completing the property
transfer. Disbursements can
vary depending on the specific
requirements of the transaction
and the location of the property.
Even though it might seem
embarrassing, do ask about
the specifics of your deal. They
should be more than happy to
explain these costs to you.

VISIT OUR WEBSITE
For everything you need to know
about buying for the first time, go to
firsttimebuyermag.com

First Time Buyer April/May 2024

IN MEMORY

IN MEMORY
OF THE GREAT
JONNIE IRWIN
It is with great sadness that we have lost a legend – the
wonderful Jonnie Irwin who passed away in February. He
was a personal friend, part of the wider FTB team and loved by
millions when he presented A Place in the Sun and Escape to the
Country on television for so many years.
Jonnie had such a spirit! He was incredibly brave and
fought this horrible disease, cancer, until the end. He defied all
the odds and amazed everyone when he bounced back time
and time again.
My memories of Jonnie are that we always laughed and had
fun. I first met him when we did a feature about him way back
then. I remember him sitting in the back of the photographer’s
car as we drove to the location for the photoshoot and although
we had never met before we just ‘clicked’. Some years later we
visited his flat for another photo session and while making us
a delicious cup of coffee he told us about how he was such a
supporter of the Lord Taverners charity as he loved cricket but
always fully supported their fund-raising events. Nothing fazed
him – climbing mountains, skiing, trekking – he was up for it all!
The lovely TV presenter Nicki Chapman had been the host
of our Readers’ Awards for several years and we were coming up
to the 2018 Awards when, a couple of weeks before the event, I
received a call from Nicki to say she had a brain tumour (which
thankfully she fully recovered from) and that she was unable to
host. I sat there wondering what to do and decided to call Jonnie
to see if, given the very short notice, he would step in. Of course
Jonnie was there and what an incredible job he did. I will never
forget the way he became a professional auctioneer when we
raised money for our chosen charity. There was a BMX bike up
for grabs and he happily rode it round the audience raising more
and more money on the way. After that, Jonnie was most definitely
part of the FTB dream team and from then on both Jonnie and
Nicki hosted the Awards together, which was the perfect duo.
On yet another occasion Jonnie was coming to do a Q&A
session with me at one of our London Home Shows. Time was
ticking on and I was getting very worried as to where he was.
When he arrived with minutes to spare he was a very, very
worried man. He had been scammed that morning and was
beating himself up as to how stupid he had been. We told him
it happens all the time and that these scammers are very, very
clever. In typical Jonnie style he rose to the occasion and sat in
front of the audience answering their questions and telling a few
anecdotes along the way – brilliant as ever!
Jonnie’s family were his world – he adored his incredible wife,
Jess, and his three little boys more than anything. After Rex, his
first son, they had twin boys, and I too, have twin boys, so we
shared stories about their escapades and Jonnie’s face would
always light up talking about them all.
His passing has rocked the wider housing community who all
loved him. Jonnie will always be in our hearts and our thoughts
are with Jess, Rex, Rafa and Cormac and the rest of his family and
friends at this very difficult time.
RIP Jonnie

First Time Buyer April/May 2024

FTB LOVES

EASTER EGGSTRAVAGANZA
Easter decorations are fast becoming the norm,
and after a dark winter, Easter is the perfect
opportunity to introduce florals and pastels back
into the home. Give the Easter bunny a run for
their money with our top picks to make the fourday Easter weekend that bit egg-str
egg-stra special!

Gingham Easter cake
stand, £12, Talking Tables,
talkingtables.co.uk

Bunny ears shape basket,
£2.99, Home Bargains,
home.bargains

Easter egg hunt party bundle, £18, Hobbycraft,
hobbycraft.co.uk

Easter egg topiar
y tree, £14; bunn
y print Easter bunti
bunny shape wrea
ng, £5;
th, £8; white twig
tree, £8; natural
print mug, £3.50,
Easter
Matalan, matalan
.co.uk

,
Lights4fun
, £9.99,
ts
h
lig
g
g
aster e
10 LED E
.co.uk
n
fu
4
ts
h
lig

Bunny egg dip
plate, £2.99,
Home Bargains,
home.bargains

10 First Time Buyer April/May 2024

FTB LOVES

ger Ray,
£5.99, Gin
ecorations,
d
b
om
yc
ny hone
Easter bun
co.uk
y.
ra
er
ging

Wooden
East
gingerray. er bunny table con
fetti, £3.9
co.uk
9. Ginger
Ray,

Hello spring mug, £4.50, B&M,
bmstores.co.uk

Easter chocolate poem, £4.99, Home Bargains,
home.bargains

r&
, £18.99, Cutte
ownie box of 12
Easter mixed br
ndsquidge.com
Squidge, cuttera

Bunny glass jar, £9
.99; Easter food
storage jar, £2.4
egg cups, £3.29;
9; Easter chick
Easter egg tea tow
els – pack of 3, £4
therange.co.uk
.99, The Range,

First Time Buyer April/May 2024

Homepage LIVING

SUPERMARKET SWEEP
Why not pick up a new mirror with your milk?
Supermarkets are no longer just somewhere to go
when fridge supplies run low. From M&S to Asda,
supermarkets are upping their interiors game so it
has never been easier to pop a few new homeware
items into your basket during the weekly shop

Modern glass cylinder vase, £9; abstr
act
bedding set, from £17.50; striped
outdoor
bolster cushion, £17.50; Dome floor
lamp,
£45, Marks & Spencer

Green scalloped wave edge
cushion, £10, George Home
Coral outdoor cushions
– set of 2, £25, Marks &
Spencer

Shell vase, £12.50, Marks & Spencer

Jigsaw cushion, £12,
George Home

Mint checkerboard mat, £10;
blue harlequin towel range,
from £4.50; mint green
scalloped soap dispenser, £6;
mint green scalloped tumbler,
£4, George Home

Red strawberry rug, £12,
George Home

La Vie est Belle bath mat,
£10, George Home
Mango wood star large wall
hanging, £22, Habitat
Monochrome checkerboard
Sherpa throw, £12,
George Home

12 First Time Buyer April/May 2024

Homepage LIVING

;
Navajo reversible duvet set, from £10
Brown Prairie Cactus throw, £22;
Sunset Cowboy reversible duvet set,
from £10, George Home

Summer Resort picnic tray,
£14; picnic dinner plates – set
of 4, £15; table runner, £15;
check cereal bowls – set of 4,
£15, Marks and Spencer

Fish vase, £14, Marks
& Spencer

Cone base gin
glass – set of 2,
£15, Marks &
Spencer

French slogan plates – set
of 3, £14, George Home

Terracotta shade, £16, Habitat
Gold enamel
tray, price TBC,
Habitat

Geometric framed wall art, £30; man
go wood
large vase, £16; Eero floor lamp,
£50, Morillo
nest of 2 tables, £80, Habitat

Orange gloss table lamp, £20, Habitat

Luis rattan table
lamp, £43,
Habitat

Tortoiseshell vase, £18, Habitat
CON TA C T S
» Habitat (at Sainsbury's) habitat.co.uk » Marks & Spencer marksandspencer.com » Asda george.com

First Time Buyer April/May 2024

Homepage LIVING

At home with:

Melissa Porter

Melissa is a television presenter and has been on numerous shows including Escape to the Country, Countryfile and
Get A New Life on the BBC and Britain’s Dream Homes on Channel 4. She is also a trained counsellor and life coach
and has recently published a book, Mastering the Single Parent Game. She talks to Lynda Clark about buying her first
home, her fascinating life and has some good advice for first time buyers
Photos: Jonathan Farber

FTB: Tell us about your first step on the
property ladder?
MP: When I was 21 my father gave me
£10,000 and told me to buy some new
dresses. He was such a male chauvinist
and very sexist too, so I decided to show
him that I was made of stronger stuff than
dresses and decided to invest the money
in a house. I managed to get a mortgage
and bought a three bedroom, mid-terrace
house in Streatham Vale, south London,

which cost £137,000 and was all I could
afford. I had watched my parents buy
and sell properties all my life so I wasn’t
afraid of being on a building site! I had
to renovate it and I made some terrible
mistakes along the way. It was a massive
learning curve, especially when I knocked
a wall down and the ceiling fell in because
I hadn’t realised it needed an RSJ! I had a
good job and a good salary and I paid for
the renovations as and when I could afford

“IT IS FAR BETTER TO LOOK AT UP-ANDCOMING AREAS, WHERE THE PRICES ARE
MORE AFFORDABLE, AND THEN ASPIRE TO
MOVE ON AND UPWARDS”
14 First Time Buyer April/May 2024

it. After six months I decided to put it on
the market and made £90,000 from the
sale. I gave the money my dad had given
me back to him, and his response was,
“Where’s the interest?” Unbelievable!
FTB: What work where you doing at
that time?
MP: I was working as a marketeer for
Kodak. They had set me a project, which
ended up not taking off, but they wanted
to rebrand disposable cameras from the
existing model to be used for weddings. I
was so disheartened when they dropped
the idea and I decided to leave and set up
my own company doing exactly what they
had planned – selling disposable cameras
for weddings. It was a huge success and
meant that I could buy more properties
in Streatham and renovate them and sell

Homepage LIVING

them on. Because of this, I had an excellent
rapport with the local estate agents. I
believe that if you are honest and ready
to commit, they will treat you with respect
and, instead of me calling them, they
started to call me when a property came up
that they thought I would be interested in.
I had a great team of builders who I really
looked after and it all worked very well.
FTB: Where do you live now?
MP: I live in my partner’s detached house,
which he has lived in for 30 years. It is
in the most beautiful location on a lake
in Cheshire. It does need some TLC as it
has been extended over the years and is
rather higgledy-piggledy. We are going to
make it a more cohesive home and make
the rooms bigger and more open-plan. We
have a formal dining room which we never
use as I would rather be in the kitchen
and chat to friends when they come over
while I am cooking, so I use the room as
a study. In fact, we really only use half of
the house! I love doing renovations so it
will be great fun.
FTB: Tell us more about your career?
MP: I worked as a marketeer for a property
company in Knightsbridge called Home
Search. I helped people relocate from
abroad to live in London. It was a fun job
and I pretty much had to do everything to
settle them into their new lifestyle. My boss
got a call from Brighter Pictures asking him
if he knew anyone who could work on a
new show they had lined up about helping
people relocate to the UK. He told them
he had the perfect girl and three weeks
later I was filming for prime time TV on
the show Get a New Life. That led on to
many more shows, but eventually I really
upset the directors because I seem to have
a connection with people and they would
tell me all their problems etc. The directors
wanted to film these moments and I
absolutely objected to this idea. It was very
personal and I know they thought it would
make great television seeing people upset,
but it was very wrong. So I decided not to
do any more TV work. I have always had
a strong interest in counselling especially
as I haven’t always had a very easy life. I
left my partner and I brought up my son
alone from the ages of two to 10 and my
childhood was far from idyllic. I trained as
a counsellor (BACP), as a life coach (CTI)
and as a NLP practitioner. And I set up my
counselling business to help people, which
is amazing.
FTB: What can you tell us about your
new book?
MP: Many people stay in relationships that
aren’t working, but I left my partner and

“I MANAGED TO GET A MORTGAGE
AND BOUGHT A THREE BEDROOM,
MID-TERRACE HOUSE IN
STREATHAM VALE, SOUTH LONDON,
WHICH COST £137,000 AND WAS
ALL I COULD AFFORD”
brought up my son as a single parent. It
was hard at times, but he is 13 now and my
new partner has just adopted him, which is
marvellous. So, the book really came from
my own personal experiences.
FTB: What advice do you have for first
time buyers?
MP: Mortgages are not like they used
to be, so it is difficult and you have to be
creative unless you have the Bank of Mum
and Dad or use the Government scheme,

shared ownership. When I worked in
central London I always wanted to live in
Kensington or Chelsea, but this was just a
dream – it is far better to look at up-andcoming areas, where the prices are more
affordable, and then aspire to move on
and upwards. Don’t whinge and moan but
be positive in your outlook and definitely
make a plan and stick to it.
melissaportercoach.com
@realandroarmelissaporter

First Time Buyer April/May 2024

Homepage FIRST RUNG

The

HOUSE
HUNTER

What we found…
THE LANDMARK PROJECT
Brent Terrace
Brent Cross,
north London

FROM
£113,750*

THE OUT-OF-TOWN FEEL
Harrow and
Wealdstone Heights,
north west London

FROM
£81,250*

This month FTB goes on the hunt with Kat
and Frankie Pilcher who are on the lookout
for their first home in north London

PROFILE

Names Kat Pilcher, 28, and Frankie Pilcher, 32
Occupations Shop manager, trainee audiologist
Maximum budget £250,000
Requirements A one or two bedroom apartment in the north
London area with good commuter links to central London.
Proximity to green spaces, cafe culture and convenient
shopping facilities would be ideal

What they wanted…
Kat and I have been living in a shared
house for a couple of years now,
dreaming of – and saving towards –
being able to buy our own place. We
both work in central London, and love
living in and going out in London, so
we’d like to live within 30 minutes of
the centre. Both of our families live north
of London, so it makes sense to us to
live in north London so they’re easier
to get to. We’re pretty open to exactly
whereabouts that may be, as we don’t
have any particular ties to any area. We
would like to be within walking distance
of a tube or railway station. We also
love getting out for a walk or run, and
enjoying a long breakfast or lunch out,
so having parks and good coffee shops
and cafes close by would be ideal for us.
We’ve saved hard and have a deposit of
£30,000 which we believe will enable us
to buy via shared ownership somewhere
in the capital.”

16 First Time Buyer April/May 2024

The leafy borough of Barnet is
home to this new collection of
properties, which sits within what
is set to become one of Europe’s
largest regeneration projects.
There will be around 7,000
homes here, plus open spaces,
play areas, shops and health
facilities, and great links into
central London. These one, two
and three bedroom apartments
have been designed for modern
living – the larger properties are
arranged over two floors, with
open-plan living areas opening to
private gardens, two bathrooms
and plenty of storage space.

Located in the heart of Harrow,
with shops, restaurants, transport
and parkland all within a few
minutes’ walk, these new homes
are all about convenience. The
one and two bedroom apartments
are set over 17 floors and are
sleek and stylish, with smart,
fitted kitchens with integrated
appliances and floor-to-ceiling
windows in the lounge for
optimum natural light. Though you
have everything you need right
on the doorstep, more shopping
can be found in nearby Wembley,
while lovely open countryside can
be reached quickly by car.

lqhomes.com

originhousingsales.co.uk

*Based on a 25% share
of the full market value of £455,000

*Based on a 25% share
of the full market value of £325,000

What they thought…
We recently visited one of the brand
new parks near Brent Cross, which
had an amazing bakery and cafe,
and we were really impressed with
the regeneration in the area. This is a
large project, with many community
facilities. As well as health centres and
shops, there seems to be a real focus
on ensuring there’s enough green
space for residents. The apartments
look generously sized and the location
is really good, with great access to
roads and trains to the North. Very
interesting food for thought.”

Harrow isn’t too far from where we
live at the moment, and what we
like about the area is that in some
places it can feel like it’s not really in
London at all. Harrow on the Hill has
such a pleasant country-town feel
about it, and there are some really
lovely parks in the area that would
be great for weekend walks. Kat
is a great artist and loves to draw
and paint in her spare time – so the
natural light flooding in from those
big windows would be a seriously
big bonus for us.”

Homepage FIRST RUNG

THE BEST OF BOTH
L&Q at Hayes Village
Hillingdon,
west London

THE CONVENIENCE KING
FROM
£TBC*

SO Resi Whetstone
Whetstone,
north London

FROM
£100,000*

First choice!
THE HIDDEN GEM

FROM
£105,000*

Cassia
Oakwood, N14

Occupying the site of the former
Nestle chocolate factory in Hayes,
these new homes offer a great
chance for first time buyers to
buy in a peaceful yet convenient
location. The one, two and three
bedroom apartments are just
a 10-minute walk from Hayes
& Harlington station, for tube
services to central London in less
than 30 minutes. The development
will eventually house more than
1,300 new homes, providing
extensive green space that will run
alongside the canal and include
communal gardens and children’s
play areas.

Homes are selling fast at this
popular development in the north
London suburb of Whetstone. The
one and two bedroom apartments
are located on a tree-lined
residential road and sit around
a pretty, landscaped central
courtyard. Inside, the properties
feature open-plan living spaces
that lead to a private balcony,
contemporary kitchens, and large,
floor-to-ceiling windows. The High
Road, for cafes, shops and foodie
pubs, is a short walk away, as is
the Zone 4 underground station
offering tube services to London
Euston in 26 minutes.

lqhomes.com

soresi.co.uk
*Shared ownership available

Hayes has never really been on our
radar before – we have never even
been there, but it certainly looks like
it’s worth exploring. It seems like a
great location for young professionals
like us who are looking to work in the
city but who also crave some green
space. There’s an Elizabeth Line
underground station close by, so the
commute into central London would
be super easy. There’s also the canal
and some lovely leafy walks on the
doorstep, which would be the first
thing we’d like to check out!”

*Based on a 25% share
of the full market value of £400,000

My aunt lived in Whetstone when I
was growing up and I have many
fond memories of this and the
surrounding areas. The area has seen
some big changes, with some lovely
new developments. There’s also a
lot of history and plenty of beautiful
period properties in the area, along
with some great places to visit in
nearby Barnet and North Finchley.
We love that the homes sit on a treelined, residential street – so a nice,
peaceful escape from the bustling
city, which is just what we’re after.”

Oakwood is
don neighbourhood of
The desirable north Lon
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newlonliving.co.uk
*Based on a 30% share of the full market value of £350,000

THE NEXT STEP

“We’re keen to take a good look around the
area and the development. From what we’ve
discovered so far, Cassia ticks all our boxes
and we’re very excited to proceed. We have
our mortgage offered in principle, so we’ll
be speaking with Newlon next to have our
affordability assessed.”

We hadn’t heard of Oakwood before – but we know
some of the nearby areas such as Cockfosters and
Southgate – and we really like them. Having done
some research, it seems like a hidden north London
gem, which we’re pretty excited about. The transport
links to central London look great for us – there’s a
choice of tube stations within walking distance. And
there’s a lot of green space; Trent Park is huge and
will be great for jogging and summer walks. The
development itself is very stylish, and we like the
landscaped gardens and off-street parking.”

First Time Buyer April/May 2024

ADVICE

Kevin Sims is the Sales & Marketing Director at SO Resi and has
over 35 years of experience in the property industry. SO Resi is one
of the country’s leading shared ownership specialists with the aim
of making homeownership possible through affordable housing.
With such diverse experience in all things new build homes and now
specialising in shared ownership, Kevin is on a journey to help as
many people on to the property ladder as possible in 2024

My partner and I (both 24) are finally
looking to move out this year. We
currently both live with parents in London
but are looking to avoid renting due to the
rising costs and are afraid that once we start
renting, we may never be able to get out of
it. We really want to stay in the city as this is
where we have grown up and both have all
our friends, family and jobs here. Could you
offer some advice on how we may be able to
build a life here, despite the costs?

It is no secret that London has become
a place where a range of buyers are
being priced out – especially first time buyers.
It does sound, however, as if you and your
partner could benefit from shared ownership
in London, and there are plenty of schemes

FROM

£158,750*

available across the capital at different price
points. The scheme will allow you to buy a
percentage share which you’ll pay a mortgage
on, with the remainder being paid on belowmarket rent, and then service charges too.
A lot of people are looking to avoid the
rental trap with rents rising the fastest in
London, but would never be able to afford to
buy on the open market. One of the biggest
benefits of shared ownership is that deposits
are often considerably lower than buying on
the open market. This is because you put a
deposit down on the share that you’re buying
(for example 25%), rather than the value of the
whole property. As an example, at our SO Resi
Hendon Waterside development, a 5% deposit
of a 25% share of a one bedroom property
could be as low as £4,129.

Kevin Sims,
Sales & Marketing
Director, SO Resi

If London is a place you aim to stay in
the long term too, staircasing is a brilliant
way to continue along the journey to full
homeownership. It’s possible to buy shares at
any time, but at SO Resi we offer the SO Resi
Plus scheme, which was pioneered by us and
has now been rolled out nationally.
The SO Resi Plus scheme allows buyers
to staircase at a gradual pace by purchasing
an additional 1% share each year, which
can be done at the touch of a button with
no solicitors needed, making the ultimate
goal of homeownership that little bit more
achievable. Knowing this benefit is available
to you throughout your journey should give
you peace of mind, and a purchase of as little
as 1% can make a world of difference in the
long term!

Having launched in January 2024, SO Resi
One Nine Elms offers 57 shared ownership
homes in the heart of Wandsworth. This
includes a range of one and two bedroom
apartments with prices starting from £158,750 for a 25% share.
Located in London’s tallest residential building, all apartments provide sleek
and stylish living, with open-plan main rooms and some homes with river views
and private winter gardens. Internally, each property comes complete with
integrated Bosch appliances and carefully considered living areas to maximise
space. All residents will also have access to the panoramic viewpoint on the 58th
floor of the building, which offers stunning views over central London and the
River Thames.
on
Nine Elms, Lond
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The surrounding area also offers a host of fun things to do for a range of buyers,
with excellent transport links too, including:
9 The Grade II listed Battersea Power Station is a 10-minute walk away,
boasting a range of shops and eateries.
9 Green open space is also plentiful, with residents spoilt for choice with
Vauxhall Pleasure Gardens, Pedlar’s Park and Battersea Park.
9 Sandwiched between two Zone One underground stations of Vauxhall
and Nine Elms serving the Northern
n Line and the Victoria Line, commuters
are truly spoilt for choice with options to get into the City of London.
9 An excellent network of buses also serves
ves the surrounding area, with a
plethora of new cycle lanes and pedestrian footpaths for journeys
jour
on foot,
including a new footbridge over the River Thames.
For more information, please visit: soresi.co.uk
*Based on a 25% share with a full market value of £635,000

18 First Time Buyer April/May
June/July 2018
2024

THE VIEW

A COUNTRY
GIRL AT
HEART
Rosaline Darlington is best-known for being
on the most recent series of Married at First
Sight on E4. But away from the glitz and
glamour of the show, she works as a florist
and runs her own businesses, Rosaline’s
Flowers and The Flower Paddock. She
talks to Lynda Clark about her very
interesting life, buying her own
home at 21, and gives some sound
advice for first time buyers
Photos: iproductions

20 First Time Buyer December 2021/January 2022

20 First Time Buyer April/May 2024

THE VIEW

"I HAVE ALWAYS BEEN A
SAVER AS WELL SO IT MADE
SENSE TO INVEST IN A
HOME OF MY OWN"

First Time Buyer April/May 2024

THE VIEW

"REALISTICALLY
YOU NEED
TO LIVE AND
PAY THE BILLS
AND I THINK A
SPREADSHEET
REALLY HELPS
YOU FOCUS ON
YOUR FINANCES"

"I AM ALWAYS
THINKING UP NEW
WAYS TO GROW
THE BUSINESS AND
LOOKING AHEAD
TO WHAT I CAN DO
EACH SEASON"

22 First Time Buyer April/May 2024

THE VIEW

ozz, as she likes to be called, is very bubbly
with a wonderful infectious attitude towards
life and a great sense of humour. Talking to
her I immediately felt I had known her all my life and I
was carried away with her wonderful positive attitude
towards everything. Her parents ran a dairy farm near
Crewe and she is their middle daughter and all three
girls are very close. She said, “I was so fortunate to grow
up on a farm, I am very free spirited and loved running
around the farm and being outside as much as possible.
My passion is horse riding and my youngest sister,
Millie, and I would spend hours riding together. We
were lucky enough to have our own ponies and as we
grew up we had horses. My absolute favourite horse was
Tango who sadly died not long ago and we now have
two Shetland ponies called Didi and Inka. We are having
a little break from riding now as we are all so busy and
Millie has a family, which takes up all her time, but it is
my true passion. When I was about five, my dad decided
to sell the farm and turn it into a business park so he
sold all the livestock. They still live there though and all
my family are nearby as we are very close.”
At school Rozz wasn’t the most academic as she
always enjoyed being outside and not in the classroom,
but she passed her exams and went to college to study
childcare. “I completed the course and then became a
nanny, which I really enjoyed. It was fun and I was able
to take the children out and about, which suited me
very well as it wasn’t a job where I was sitting inside all
day. I then realised that because I love nature and the
outdoors, gardening and flowers were very important to
me. The mother of the children I looked after, who was
a doctor, used to teach me all the names of the flowers
in the garden. It was nature and nurture I suppose and
was like a little escape. My interest in flowers must be
in my family as my grandmother has won awards for
her flowers.”
She completed her City and Guilds Level 3 Floristry
at Reaseheath College and set up her business,
Rosaline’s Flowers. “I sat with my family around the
kitchen table and the idea came to me that I should
start a business in the thing I loved, which is inspired
by the colours and textures found in natural and floral
landscapes.” She works out of a unit on the converted
family farm and has a website offering everything from
wedding bouquets and funeral tributes to Valentine's
Day and birthday flowers and the now very trendy jam
jar flowers. She also runs wreath-making courses that
are very popular, and sells seed packets, which include
three packs of seeds, instruction cards, compost and
much more. There are also subscriptions people can
take out to receive flowers regularly, which again is
proving very popular. “I am always thinking up new
ways to grow the business and looking ahead to what
I can do each season. It’s always very exciting and it
doesn’t feel like work!”
During 2020 and 2021, when the UK was in the
midst of the pandemic, Rozz decided to plant a flower
paddock. “I love growing my own flowers from seeds
and watching them flourish and then using them for
Rosaline’s Flowers.” The Flower Paddock has been a
real success story and she says, “I love delphiniums,
dahlias, cosmos, peonies, sweetpeas and sunflowers

to name a few. I have learnt to grow the plants from
seed, when to harvest the flowers and how to manage
the plants in all types of weather conditions. I now run
classes and open days there, which are great fun!”
When she was just 21, her older sister Charlotte, who
lives near to the family home, decided to sell her house
as she was having a baby and needed more space. Rozz
made the big decision to buy the house having been left
some money from her grandfather which helped with
her deposit. “I have always been a saver as well so it
made sense to invest in a home of my own. It is a lovely
house – detached on a corner plot so the garden goes all
the way round the house. It has three bedrooms and I
live there with my three dogs, Willow, Maple and Honey.
I have had some work done on it to make it my own and
I really love living here.”
She decided to apply to go on the TV show Married
at First Sight and explains, “I had broken up with my
boyfriend and my wonderful horse, Tango, had died so I
was at a rather low point of my life. It was probably an
escape but I never imagined I would get chosen. I was
probably a little naive but I quickly learnt that my skin
was thicker than I thought and I had to be robust and
believe in myself.
“I had great support from the public and the rest of
the cast and I actually gained thousands of followers
and have a big fan base. I have about 181,000 personal
followers and 13,000 on Rosaline’s Flowers and 6,000
on The Flower Paddock. I think the main thing is that
when I was on the show I was always honest, respectful
and transparent, which are all very important to me. I
was away filming the series for three months and my
parents were very supportive and looked after the dogs
for me and my business, so I was very lucky.”
At 28, Rozz has already done so much and has some
exciting plans in the pipeline. She would like to do
some more work in television but she is passionate
about floristry and the great outdoors. “There is nothing
I enjoy more than taking the dogs for a walk and
meeting up with friends. I would like to get married one
day and have children and build a family but I am living
in the moment and I am free to go down whichever
path I choose.”
She has some great advice for first time buyers and
said, “Keep a spreadsheet of your income and outgoings.
It really helps and you can forecast how much you can
save and what you can afford. Realistically you need to
live and pay the bills and I think a spreadsheet really
helps you focus on your finances. I am also always
aware that things can sometimes suddenly go wrong –
like the boiler needs attention – so I like to make sure I
have a contingency fund to pay for any emergencies.”
Rozz is a very special person and so full of
enthusiasm and truly has a positive outlook on
everything she does. It was time to take her dogs for a
walk and I wished I could have joined her and spent
some time in the beautiful countryside where she lives
– in my opinion she has an idyllic life and one that I am
rather jealous of!
rosalines.co.uk
theflowerpaddock.co.uk
Instagram: @rozzdarlington

First Time Buyer April/May 2024

REGENERATION

LOCATION
REGENERATION
When it comes to buying your first home, a desirable location takes priority
for most. But what if your budget simply doesn’t stretch to the area you
would love to live in? Should you compromise on square footage? Settle
on a home in desperate need of modernisation? Or invest in an area of
"regeneration"? Debbie Clark takes a look at what this buzzword means in
reality, and takes a whistlestop tour of some current regeneration hotspots
Regeneration typically involves the investment of public
money, with the support of private investors, into areas identified
as being in need of lasting improvement. Some of the best-known
examples include the construction of the Millennium Dome
and the creation of the 2012 Olympic Park, but the reality is that
regeneration is all around us.
Successful regeneration projects will always be designed with
sustainability in mind, and will have positive economic, social and
environmental impacts on an area, improving the quality of life for
all residents. Local regeneration efforts typically include improving
transport and infrastructure, providing access to high-quality
facilities focused on health and wellbeing, and land renewal to

First Time Buyer April/May 2024

develop affordable homes and open green spaces. Investing in an
“up-and-coming” area sounds like a no-brainer, but how can you be
confident that those ambitious plans will come to fruition?
We recommend taking a closer look at the regeneration plans
for areas local to your preferred locations, which can typically be
found though a quick internet search. These will give you a good
idea as to the scale of investment. Next, visit and see for yourself
what has already been achieved in the locality. Finally, take a look at
who is already investing – developers with a proven track record for
providing high-quality homes only put their resources into projects
they are confident will deliver a return. All looking good? Take a
leap of faith – then you can benefit from that return too!

REGENERATION

COLINDALE
Colindale is one of the
largest growth and
regeneration areas
in the Delivering for
Barnet programme,
offering substantial
but sustainable
housing growth
and a new compact
neighbourhood
centre. The
he area will benefit from improved public
transport services, with improved bus links and significant
improvements to Colindale underground station, including the
provision of step-free access. There will also be a new pedestrian/
cycle bridge linking Montrose Park to the hospital site and tube
station and improvements to key junctions and roads. Colindale’s
regeneration programme will deliver 10,170 new homes across various
sites and a new Neighbourhood Hub comprising health, children's and
community facilities. The project also promises high-quality public
open spaces including a Youth Zone in Montrose Playing Field.

Barking
Riverside

FROM
£67,500*

L&Q has released a new
collection of 15 one, two
and three bedroom shared
ownership apartments at the
freshly transformed site of a
former power station. Every
home will be finished to a stylish, contemporary specification, with a garden,
balcony or terrace. The development is well connected, served by Overground,
underground and Thames Clipper services. The neighbourhood is home to an
array of play spaces and outdoor areas, including a Wildlife and Wellbeing
Trail, and was recognised at the Inside Housing Development Awards 2023,
winning “Best Partnership – 100+ homes”. New launches coming soon.

FROM
£88,125*

Heybourne Park
There is an initial release of 149 shared ownership homes at this
development, conveniently located just a 15-minute walk from
Colindale underground station and surrounded by green, open spaces.
Apartments include high-quality, contemporary interiors with versatile
kitchen space, integrated appliances and wood-effect flooring through
the spacious kitchen and living areas. All two bedroom homes at the
development feature two bathrooms, including an en suite, and parking
is also available on selected two bedroom properties. Residents will
also benefit from the library, cafe and supermarket at Heybourne Park.
nhghomes.com/developments/heybourne-park
020 4579 6251
*Based on a 25% share of the full market value of £352,500

lqhomes.com/barkingriverside
020 8617 1747
*Based on a 25% share of the full market value of £270,000

Abbey Quay

FROM
£261,500*

Weston Homes presents
this six-acre riverside urban
village in Barking, with
schemes including its Firsttime SecureBuy (FTSB) offer,
which can be used with
the Discount Market Sale (DMS) scheme. The collection of 1,089 one, two
and three bedroom apartments, each with a private balcony or terrace, are set
in contemporary buildings ranging from seven to 29 storeys. All homes offer
a premium specification. The kitchens have quartz worktops and splashbacks,
a range of integrated appliances and instant boiling and cold filtered water
facility. Phase one is sold out, with this phase set to be as popular.
weston-homes.com/abbey-quay/
020 4502 3079

BARKING
The area’s most significant development is Barking Riverside,
a collaborative project of epic proportions. The infrastructure
includes new homes, an Overground station and Uber Boat
by Thames Clippers pier, seven new schools and a network of
footpaths and cycleways. Residents will enjoy direct river access
and plenty of open space and sports pitches. The Masterplan
includes the creation of distinct neighbourhoods. Delivered by
Barking Riverside Limited (BRL), a joint venture between L&Q
and the Mayor of London, in partnership with stakeholders and
local people, Barking Riverside is proud to be "Barking Made".
Already recognised as one of the top 12 best places to buy a first
home in the UK by The Times, it is set to be an area enjoyed for
generations to come.

First Time Buyer April/May 2024

REGENERATION

CASE STUDY

FROM
£81,250*

Harrow and Wealdstone Heights

HARROW
Maria, 53, who relocated to the UK from
Cyprus, recently moved to Hyde New
Homes’ Eastman Village in Harrow after
moving to London from Manchester to be
closer to her family.
As part of a wider £1.75bn regeneration
programme by Harrow Council, Eastman
Village is on the way to becoming a
complete new urban neighbourhood with
over 2,000 homes, along with workspace,
retail and leisure venues. The development
also has a huge focus on sustainability, with
an on-site carbon-efficient energy centre
providing heating across the development,
reducing carbon emissions by over 35%.
Maria, a former Sales Executive at Cyprus
television station Lumiere TV (LTV), chose a
one bedroom apartment with spacious, bright
and modern rooms and her most prized
feature – the large veranda overlooking the
rest of the development. “My veranda is my
joy,” says Maria. “I can have my cappuccino
freddo while sitting outside, surrounded by
trees and green space. It reminds me of
being back home and is so important for
maintaining a healthy mindset.”
Enjoying the outside space is not the only
factor that reminds Maria of her home in
Cyprus. “The community at Eastman Village
is incredible,” she says. “I work part-time at a
local fish and chip shop – the award-winning
Barracuda – which is run by a fellow Cypriot
and is located just a five-minute walk from
my home. We both speak Greek, so it has
been wonderful making friends with each
other. I have also met other members of the
community who are Greek.”
Maria has found her home-from-home, and
it seems she’s not the only one! “Residents at
Eastman Village come from many different
countries and cultures across the world,”
Maria explains. “Everybody is so friendly,
and it is lovely to chat with different people.
It’s a bit like being back in Cyprus.”
Minnie Dando, Head of Marketing and
Communications at Hyde New Homes,
adds, “Eastman Village serves as a testament
to Hyde’s belief in establishing a warm and
welcoming environment among its diverse
residents, who have chosen to make this
vibrant community their home.”

26 First Time Buyer April/May 2024

Harrow has been undergoing an era
of regeneration, with further business
plans just approved to deliver quality,
affordable family sized homes.
Revamped plans will deliver more
family housing, sympathetic to the
surroundings. The plans will transform
the Council’s old headquarters at the
Civic Centre on Station Road. This
will be known as Poets Corner. Plans
will also see redevelopment of an old
driving school left empty for the past 20
years, next to the Leisure Centre. This
area will be known as Byron Quarter.
The proposals have been crafted with
community needs and environmental
considerations in mind and foster a
community feel, incorporating new green
spaces and community facilities.

Harrow and Wealdstone Heights is a new
collection of 81 apartments, showcasing Origin’s
exceptional standard of finish. Homes offer
thoughtfully considered internal spaces designed
for modern living, and are fitted with integrated
appliances. Helping to further reduce costs for
residents, the development features a number of
eco-credentials including a ground source heat
pump and solar panels used to power communal
lighting. Shared owners can currently take
advantage of “Origin Kickstart” – an exclusive
opportunity being offered by Origin Housing for
buyers to receive incentives worth £2,500. The
offer can be redeemed to cover legal fees, rent
and broker fees, reducing the costs required for
buying a first home through shared ownership.
originhousingsales.co.uk
0300 323 0325
*Based on a 25% share of the full market value of £325,000

ROYAL DOCKS
Immediately east of Canary Wharf, in the London
Borough of Newham, the Royal Docks cover over
500 hectares of land and 18.4km of waterfront.
Working in partnership with a wide range of
stakeholders, from local community groups
to developers and local businesses, the Royal
Docks Team is delivering an ambitious £314m
investment programme over the next five years
and beyond. Home to London’s only Enterprise
Zone, this vast and unique destination is
already
y one of the most significant regeneration projects in the UK, and is fast
becoming one of the best examples of regeneration in the world.

Royal Albert Wharf

FROM
£TBC

NHG Homes is launching the final
phase of one, two and three bedroom homes
at Royal Albert Wharf, available through
private sale. Residents will have access to
a landscaped open courtyard linking on to
the Thames Path riverside walk, along with
expansive children’s play areas. The development will also have a concierge, flexible workspace and
secure cycle storage. The apartments are built to an exceptional standard with high-quality finishes and
energy-efficient features. Homes feature integrated appliances and every home includes its own private
balcony or terrace.
nhghomes.com/developments/royal-albert-wharf
020 4579 6193

REGENERATION

FROM
£80,250*

CASE STUDY

BRACKNELL
Bracknell is described as being in its most
exciting period of transformation since the
construction of the original New Town in
1949. The opening of The Lexicon shopping
centre in 2017, including Fenwicks
Department Store, a Cineworld cinema
and a range of new high-quality shops and
restaurants, rejuvenated the area and it is
now experiencing a residential resurgence,
with a series of new developments either
complete or in the pipeline. Bracknell Town
Centre Vision 2032 clearly demonstrates the
council’s commitment to continued growth
over the coming decade, promising to draw
on the town’s 20th century New Town
character and blend this with its deeper
legacy as a historic town to “create a hybrid
which captures the benefits of both worlds”.

SO Resi Bracknell
Conveniently located near the newly
regenerated high street, these one and two
bedroom apartments are at the heart of
Bracknell’s regeneration. Bracknell railway
station is also just a two-minute walk away with
direct links to London Waterloo and Reading.
Each home benefits from private outdoor space,
with parking available for all homes.
soresi.co.uk/find-a-property/so-resi-bracknell
*Based on a 30% share of the full market value of £267,500

FROM
£300,000

The Grand Exchange
Knight Frank has just launched the final phase
of sales at The Grand Exchange – a flagship
development offering 242 spacious and
contemporary one and two bedroom apartments with floor-to-ceiling windows. Upscale finishes include
stone countertops, and select penthouse apartments boast spacious terraces. There is an unmatched
array of exclusive on-site amenities, including a 24-hour concierge, The Life-Club fitness and wellness
centre, The Garden Room with indoor landscaping, and The Exchange Lab, a co-working space
offering shared office amenities and collaboration areas. Additional highlights include a private dining
and event space with picturesque views, and on-demand treatment rooms for booking beauty services.
knightfrank.co.uk
020 4502 8066

BRENT
One of the biggest regeneration projects in
Europe, "Delivering for Barnet" will create a new
centre, Brent Cross Cricklewood, incorporating:
• Brent Cross London – a modernised and
extended shopping centre
• Brent Cross South – a new high street with
6,700 new homes, commercial development,
community facilities and public spaces
• Brent Cross Thameslink – a new station.
Residents will benefit from 7,500 new homes built to sustainable standards, a new high
street with shops, cafes and restaurants, new healthcare facilities and new and replacement
schools. There will be a new leisure centre, a market square and a riverside park. The area
will also benefit from economic growth, with up to 27,000 new jobs, 4.2 million square feet
of office space and fresh employment opportunities provided by the shopping centre.

28 First Time Buyer April/May 2024

Briony Hughes and her partner bought a two
bedroom apartment at SO Resi Bracknell,
having reserved off-plan in December 2022
and completed in October 2023. They
were previously renting an older property
in a village, and since they moved into
their new home the difference has been
amazing. Briony said, ”Our old flat had just
one bedroom, it was within a listed building
which was cold and damp, and we had
to drive everywhere. Now we’re living in a
brand new two bedroom apartment in the
centre of town, just a minute’s walk from the
train station. We wouldn’t have been able
to afford to buy our first home without using
an affordable scheme, so shared ownership
made homeownership possible for us. Buying
a home has given us so many benefits – we
now have an extra bedroom, which is perfect
for guests, and we have a working from home
set-up and plenty of room for my books as I’m
an English Literature lecturer!
“We were saving for a deposit while I
was completing my PhD. Thankfully, I had a
stipend which covered all of my living and
research expenses, and then I did lots of
teaching at a handful of universities on top of
that to earn extra income, while my partner
saved from her salary each month. It was
hard work but it allowed us to build up a 15%
deposit for our home. I finally feel secure in
my home. Every home we’ve ever rented has
been sold while we were living there, which
meant we never felt settled, and we were
always on the lookout for somewhere else
to live in case we were served notice. That
anxiety has completely gone.”
Their new home came complete with
flooring, blinds and fitted kitchen including
good-quality integrated appliances. SO Resi
Bracknell is perfectly located and is within
walking distance of the shops, cinema,
supermarket and railway station. Briony adds,
“It’s much better for the planet and for my
health, and we’re saving so much money on
petrol. There’s a martial arts studio across the
road so I’ve even picked up a new hobby
which wouldn’t have been possible before!
We both feel we can finally put down
roots and create a permanent home in the
community here. Without shared ownership
we would never have been in this position.”

REGENERATION

Brent Terrace

FROM
£113,750*

L&Q presents this brand new collection
of two and three bedroom apartments and
three bedroom terraced houses. Homes feature
modern bathrooms and kitchens with fully
integrated appliances, and every property has
access to private outdoor space in the form of a
back garden or inset balcony. Outside, homes
benefit from one allocated parking bay per household, plus cycle storage. Brent Terrace also features
a green roof, offering numerous environmental benefits. The development has excellent transport links,
including the brand new Brent Cross West station which is just a 10-minute walk.
lqhomes.com/brentterrace
*Based on a 25% share of the full market value of £455,000

HENDON
The regeneration of the West Hendon estate, in the south west of the borough, aims to
create a new mixed neighbourhood of social, private and affordable homes with a range of
benefits, including a new school and community centre. The project is set for completion in
2027 and will deliver 2,194 new EcoHomes standard homes, sustainably built commercial
buildings, a new two-form community school and a nursery. A new town centre will offer
shops and restaurants, while two new bridges will provide a pedestrian thoroughfare from
Hendon railway station to the rest of the estate, as well as offering new views of the area.
There will also be significant improvements to roads and the creation of a green boulevard
linking York Park with West Hendon Broadway.

SO Resi Hendon Waterside

FROM
£84,375*

SLOUGH
Slough Urban Renewal (SUR), a
partnership between Slough Borough
Council and Morgan Sindall Investments
Ltd, is the driving force behind Slough’s
current period of rejuvenation and renewal.
SUR aims to create iconic buildings, open
spaces and connectivity, enhance and
improve local schools, and provide highquality new homes and leisure facilities.
The ambitious project sees new homes
being built across the borough, which has
already benefited from the arrival of the
Elizabeth Line. SUR has already delivered
on The Curve, an iconic library and cultural
centre right in the heart of the town, the
Ice Arena, which was stripped back to the
original steel and completely rebuilt, and
The Centre, an £18m leisure facility.

Hendon Waterside is a new
development comprising 42 studio, one and
two bedroom apartments, as well as two and
three bedroom duplex homes. The properties
have an efficient design with fully fitted kitchens
featuring Zanussi and Electrolux appliances.
The development is located by the Welsh Harp
Reservoir, which offers scenic trails, waterside footpaths and green sheltered woods for residents to
enjoy. Allocated parking is available for selected plots.

FROM
£100,625*

soresi.co.uk/find-a-property/hendon-waterside
*Based on a 25% share of the full market value of £337,500

Square Roots Hendon

FROM
£95,000*

Horlicks Quarter

Located close to the Welsh
elsh Harp reservoir
and nature reserve, Square Roots Hendon is a stylish
collection of studio, one, two and three bedroom
high-quality apartments, the first of which will be
ready to move into this summer. All apartments have
high-specification interiors with open-plan living areas
and private balconies or terraces, plus secure off-street
parking and cycle storage. There are fast transport links
from Hendon and Colindale underground stations, and National Rail links to King’s Cross St Pancras in
just 19 minutes.

Located on the iconic grounds of the former
Horlicks factory in Slough, Horlicks Quarter
is a new collection of 75 high-specification
one and two bedroom apartments. Facilities
include a residents’ gym, concierge and cinema
room, in addition to a shared rooftop garden
and co-working space. Slough railway station
is a seven-minute walk away with London
Paddington just 19 minutes by rail.

squareroots.co.uk/developments/hendon
0333 666 4242

abrihomes.co.uk/properties/horlicksquarter
0800 145 6663
*Based on a 25% share of the full market value of £380,000

30 First Time Buyer April/May 2024

*Based on a 35% share of the full market value of £287,500

INTERIORS

ASK THE DESIGNER:
ALL YOU NEED TO KNOW
TO CREATE INSPIRATIONAL
INTERIORS AT HOME!
Personalising your first home can be both exciting and daunting. How do
you know where to start? We sat down with interior design expert Steve
Hird from Edward Thomas Interiors to seek his advice on scrolling socials,
styling and shopping...
1. Before moving in, what do you
recommend first time buyers do from an
interior design perspective?
Start scrolling social media. Instagram
and TikTok are great resources for trends
and you can find plenty of home bloggers
documenting their interior design journeys.
Similarly, start following designers and
companies with products you admire so
you can start collating a mood board of
furniture, fabrics and accessories – you can
do this on Pinterest or in a scrapbook!

2. Conversely, is there anything you
would recommend first time buyers
shouldn’t do before moving?
Don’t panic buy! Just because there’s a sofa
sale or half price piece of furniture doesn’t
mean you should go for it. Take your time,
if you have the chance of a walkthrough
at the property then take measurements,
otherwise wait until you’ve moved in and
can get a feel for the space and how you use
it. Start by gathering essentials like utensils,
crockery, cutlery, bed linen and towels.

3. When it comes to interior design,
what should be first on the list after
moving in?
Focus on the key rooms, places you’ll
spend the most time like your bedroom
and living room. Knowing you have
sanctuaries for sleeping and relaxing will
help take the pressure off.
Begin with flooring and window
dressings (curtains, blinds, etc), these will
immediately make a blank space more
homely. Furniture and lighting should be
considered next, followed by accessories
and wall decorations.

First time buyer homes as designed and styled by Edward Thomas Interiors

4. Do you have any tips for measuring
up or planning room layouts?
Start by drawing or sketching out the
footprint. Separately draw out pieces of
furniture that you’re considering and move
them around within the footprint to see
how they might fit. Do this for any room
where you’re unsure of the sizing. Apps
like Room Planner and Floorplanner can
help with this too.
5. In your opinion, what are the absolute
basic essentials each room should have?
Window dressings; carpets or
floorcoverings; light fittings and furniture.
So, if it’s a living room, a sofa and side or
coffee table, a bedroom obviously needs
a bed and bedside tables, kitchen/diner
needs table and chairs. Accessories can all
be added later.
6. How does a first time buyer know
what their style is?
The average age of a first time buyer is
early 30s, so I would expect most people to
have a good idea of their likes and dislikes
even if they’re not sure how this translates
to a home environment. My advice is to
look everywhere, not just in other people’s

32 First Time Buyer April/May 2024

INTERIORS

homes but in hotels, bars, restaurants and
shops. You’ll soon find yourself naturally
gravitating towards a style.
7. Should one style be adopted
throughout the home, or is mixing and
matching OK?
This is really a question of personal taste.
The mixed up, maximalist, eclectic look can
be really striking but you do have to work
at it otherwise it can look inconsistent.
For first time buyers new to home styling,
I advise keeping a consistent base colour
theme and injecting complementary
accents, fabrics and materials into each
room for individuality.
8. How is it best to use lighting around
the home?
Lighting is important and often overlooked.
Good lighting helps a space feel bright
and inviting, especially in rooms with
fewer windows. Don’t just focus on ceiling

light fittings, consider uplighters, floor
or wall lamps, table lamps, recessed or
cabinet lighting. They also don’t have to be
expensive, there are online and high street
retailers with great options.
9. What about wallcoverings? Are
feature walls still popular?
When you first move in, it’s often easier
to keep walls a neutral colour until
you’ve finished furnishing. Feature walls
are here to stay, in fact they are being
expressed more creatively than ever.
Think wallpapering, panelling, colour
block panels, half-height painting, or a
combination! These make a great focal
point for living rooms and bedrooms,
but if you’re new to decorating, start
with somewhere small like a downstairs
cloakroom. Feature walls can add drama
to smaller spaces but are simpler to
redecorate if you change your mind at a
later date.

10. In terms of furniture, what should
first time buyers splurge and save on?
Going back to my earlier point about
focusing on the rooms where you’ll likely
spend the most time, it’s wise to invest in a
good quality sofa and bed, you want these
to last and be comfortable. For the rest of
your furniture, divide into “must-haves”
and “nice-to-haves”. You want pieces that
are functional to start off with that can
then be upgraded or replaced in time.
11. Finally, where would you recommend
first time buyers shop for bargains?
Check out TK Maxx, H&M, Dunelm,
Matalan, Next Home or Zara Home as well
as department stores like IKEA and John
Lewis that have ranges to suit different
budgets. Online retailers such as Wayfair and
Etsy have excellent pieces too. Don’t forget
supermarket homeware departments either!
edwardthomasinteriors.com

First Time Buyer April/May 2024

ENERGY EFFICIENCY

THE NEW BUILD EFFECT
Buying a new build home could save you thousands of pounds a year in energy bills
compared to an older property – so with big savings and smaller carbon footprints,
what’s not to like?

When starting out on your homebuying
journey, one of the biggest decisions
to make is whether to opt for an older
property or a new build home. Some
buyers prefer the look of an older home
with period features, while others will want
a brand new property with freshly installed
kitchens and zero budget required for
restoration works.
One big deciding factor could be the
huge savings you can make by living in an
energy efficient new build compared to
an older home. The recent Home Builders
Federation (HBF) report shows that new
builds are getting increasingly carbon
efficient and could save homebuyers up to
£184 a month in energy bills alone.

WHY THE BIG DIFFERENCE?
Conversations in politics have been
dominated by household energy usage in
recent years, and we’ve seen big pushes by
the Government to meet net zero targets.
While owners of older properties face
costly and sometimes intrusive measures
to reduce the carbon emissions of their
homes, new builds are built to everevolving standards. And this has had a big
impact on homebuyers’ wallets.
The HBF’s first Watt a Save report
was published in 2022 and compared the
energy efficiency of new builds compared

34 First Time Buyer April/May 2024

to older properties. That report found that
the home building industry collectively
reduced carbon emissions by 500,000
tonnes to help households save large
amounts on their annual energy costs.
The latest report, which gathered data
up until the beginning of this year, details
the difference in energy usage, energy bills,
carbon emissions and EPC ratings across
the different types of homes. Some of the
key findings are highlighted below.

GREATER EFFICIENCY AND
LOWER EMISSIONS
The average new house emits just onethird of the carbon of typical older houses,

with each house saving 2.8 tonnes of
carbon per year. Buyers of new build
homes in 2023 reduced carbon emissions
by 500,000 tonnes.
The amount of greenhouse gas
emissions that a property produces
depends on several factors, including the
way a home is powered (gas or electricity),
the efficiency of items such as boilers and
how well the property is insulated.
When buying any home, the property’s
energy performance certificate (EPC) must
be made available for potential buyers
to view. This indicates how efficiently
a property runs – including in terms of
energy and insulation – and helps buyers
to make informed decisions.

ENERGY EFFICIENCY

CASE STUDY

When they were looking for their forever home, saving time and energy on DIY
was a priority for Ken and Michelle Apple-Perry – the fact that it was net zero
was a bonus
Although the couple are not first time buyers, their story applies to everyone
who is buying a home and wants to save energy. The couple relocated from
Maidenhead in Berkshire to a new build home from the Edenstone Group at
St Mary’s Garden Village in Ross-on-Wye. In doing so, they’ve reduced their
energy bills to just a fraction of what they were paying previously – despite
moving to a larger property. Plus, they can earn from any surplus solar
generation they export back to the National Grid.
Michelle explained, “As recent newlyweds we wanted somewhere that
would be our together, forever home. We had a tiny two bedroom maisonette
so wanted something more spacious, and closer to where my daughter lives.
We were specifically looking for a new build for the convenience. I’d bought a
new build before and liked the idea of a 10-year warranty and didn’t want to
spend a lot of time on repairs that an older property was likely to need.”
They chose a three bedroom semi-detached Chepstow-style property which
ticked all their boxes. “The fact that it was net zero was an added bonus. We
liked the idea but didn’t realise we could get something as advanced as this
within our price range. It has solar panels with a battery backup. Everything
is electric. We have ceramic panels in the ceiling rather than radiators and a
water tank that heats up between 3am and 6am, when electricity is cheaper.”
Their home is part of Edenstone’s wider ambitions to move to net zero
energy across all its developments by 2025, thereby reducing energy bills
for its customers. Along with solar panels, the couple’s home also includes
the Wondrwall home automation and energy management solution. Initial
indications are that the system is already outperforming average predictions,
generating more energy than it consumes.
“The first month the solar panels were connected our energy bill was £20
and the last one was £50, but the weather hadn’t been so good. We know
in the winter we’ll pay more but we don’t expect it to be more than £100 a
month. On our previous property we were paying about £200 a month for
gas and electricity and that was with solar panels too.”
Edenstone Operations Director Chris Edge said, “We’re extremely proud
of our green credentials. We built our first zero carbon home in the Vale of
Glamorgan in 2019 and are working hard to realise a long-held ambition
of leading the development of mainstream net zero energy homes at scale.
As part of our commitment to creating sustainable communities, alongside
new homes at St Mary’s Garden Village we’ve also built a net zero energy
community hub. It should produce all the energy it requires and feedback any
surplus into the grid.”
There’s a range of properties at St Mary’s Garden Village, from two to four
bedroom styles, available from the Edenstone Group’s two housing brands –
Edenstone Homes and Bluebell Homes.

Homes are rated on a scale of A-G. In
2023, 85% of new builds had the highest
EPC ratings – A or B. However, less than
5% of older properties have a rating of
A or B, and it’s common for the EPCs to
be much lower – indicating that a budget
would be needed to replace costly features
such as heating systems, or just to keep the
home warm in general.

BIG, BIG SAVINGS
Of course, the more energy efficient a
home is, the cheaper it is to run – and this
is evident in the huge savings recorded in
the report.
The average new build homebuyer
saves £137 a month on energy bills – a

huge £1,640 a year, compared with
purchasers of equivalent older properties.
This saving rises to £184 per month for
houses, rather than flats or bungalows,
totaling £2,200 a year.
Going forward, the newest homes, built
to Part L regulations (from June 2023) will
save even more, with an average saving of
up to £2,600 for houses specifically.
These differences in energy bills have
significant implications for homeowners’
monthly outgoings, their subsequent
quality of life and their savings pots.

THE FUTURE
Even with energy prices beginning to fall
after the peaks seen in recent years, new

build homeowners will still save thousands
every year.
The home building industry continues
to work towards the Future Homes
Standard. This means more properties
being created to even higher energy
efficiency standards. It is expected that
from 2025, the average new build energy
bill will be cut by 70% compared to that of
older counterparts.
Each person’s homebuying journey
is unique and filled with personal
preferences, including the preference in
the style of home. These findings provide
potential homebuyers with a wealth of
information around the huge savings they
can make – and the potentially surprising
differences between the homes available.

First Time Buyer April/May 2024

INTERIORS

WATCH THIS SPACE!
Carla Longworth and her partner Tom Ingleton have created an exciting and innovative
new product which will revolutionise bathrooms, offering unique printed wall and bath
panels that are cost effective, quick to install and will add a real designer touch to make
your home look unique

Carla was in the property world for
20 years and worked for estate agent
Spicerhaart. She began by selling older
homes but in 2012 she became the New
Builds Sales Manager for London and
Essex working with developers and
housing associations. Tom began his career
as a contractor and eventually became a
property developer. He said, “I eventually
fell out of love with building homes –
Covid and Brexit had a massive impact.”
This led him to the decision to retire
from development and concentrate more
around his creative side and developing
new products.
They were lucky enough to have bought
a 1 Euro home in Italy and Tom decided
to spend his time renovating it, which he
thoroughly enjoyed. “It was a great life,
but then interest rates changed, the rental
properties we had were not making us
enough money and I had to go back to work
to make ends meet. I hadn’t worked for
anyone before and wasn’t sure what to do.”
He always had a keen interest in interior
design and building things, which led to

First Time Buyer April/May 2024

the creation of Acrypanel. He said, “I did
a lot of research and was very interested
in the concept of using panels instead of
traditional tiles, but they were made of
glass. This meant that when cutting them
the measurements had to be absolutely
precise and transporting glass is a major
problem because they can easily shatter. So,
I decided to make panels which were easy
to work with, versatile, robust and quick to
install and so Acrypanel and the concept of
making them in acrylic was born!”
Following the initial designs of the
Acrypanel, Tom decided that he needed a
bath panel to complement the wall panels,
so set about designing a bath panel. He
was interested in the concept of a metal
frame bath panel system he had seen
on the market and decided that making
them magnetic was the way forward. To
see how this all worked he contacted the
manufacturer of the frame to present his
idea to them. “I took a full-size bath with
me, with the frame for our bath panel and
the acrylic panel to demonstrate, when I
demonstrated our bath panel with their

system I put it in the metal frame that they
made and it literally fell apart as there was
a flaw in their design. This then gave me the
idea to produce our own frame, making the
frame more secure.
“QuickFix bath panels are the only bath
panels that come with the independent
metal frame included in the pack, and our
system speeds up the installation process
hugely and it literally takes minutes to
install. Also, they are fully accessible in
the event of leaks or maintenance and are
removed without damage!”
As true entrepreneurs they have formed
a collaboration with well-known designer
Becca Who, famous for her wallcoverings
and upholstery. Carla continues, “Her
designs are beautiful and we now have
a licence to use them on our panels and
furniture. We are also in the process of
producing a vanity unit which is totally
unique and features one of her designs on
the inside of the drawers.”
The QuickFix bath panel and Acrypanel
can be made with any design and they also
prevent any mould from forming, which is

INTERIORS

always a problem in wet and steamy areas.
The panels can be put on existing tiles or
on a brand new wall and take less than two
hours to install. “They are so labour-saving,
as in the past if you wanted to revamp your
bathroom you would have to take off all the
old tiles which makes lots of mess and takes
a long time. You would be amazed at what
a difference they make – using them on the
walls or for a bath panel. If you want, you
can keep your old bath but replace the taps
and install a panel and it totally transforms
the room.”
Called Interior Art Design, Carla and Tom
are hoping to attract developers, housing
associations, contractors and even hotels.
They have a 5,000 sq ft factory where they
make and design everything on site. “We are
so excited and have just got our first contract
making 61 QuickFix bath panels for homes
for a housing association’s development. We
are forever refining the business and want to
offer the absolute best.”
There is never a dull moment for Tom,

who is also in the process of making
revolutionary 3D Parametric wall art.
The intricately designed masterpieces
are created using state-of-the-art CNC
technology, resulting in a stunning interplay
of light and shadow that adds depth and
dimension to any room. They range from
designs inspired by nature to abstract
patterns and geometric shapes, or can be
custom-made to your own design. These
stunning panels are easy to install and
also offer excellent soundproofing and are
simple to maintain.
Carla and Tom thrive on hard work
and their enthusiasm, creative ideas and
entrepreneurship are quite something. As
Tom quite rightly says, “Our design ethos is
centred around bringing both beauty and
functionality to people’s lives!”
Follow them on Instagram
@interiorartdesign2023, email
info@interiorartdesign.co.uk
or call 07584 050 950

GIVING BACK

Carla and Tom have long been fans of
the late TV presenter Jonnie Irwin. They
are making a donation to St Oswald’s
Hospice, where Jonnie stayed for respite
during his long fight with cancer, for every
sale they make.

First Time Buyer April/May 2024

AFFORDABLE HOMES

GREENERY AND GREAT
CONNECTIONS DELIGHT
FIRST TIME BUYERS AT
EASTMAN VILLAGE
At Eastman Village by Hyde New Homes, the ideal combination of greenery, great connections
and pristine homes awaits, along with the opportunity to be part of an exciting £1.75bn
regeneration project which is reshaping Harrow
This exciting new residential quarter
already has a growing community
and once complete will harbour over
2,000 homes, along with a supermarket,
a residents’ gym, cafes, a restaurant and a
stunning landscaped park that will deliver a
new green link in the heart of this auspicious
north west London location. Buyers at
Eastman Village can purchase homes in a
thriving, established community. And when
purchasing through Hyde New Homes, they
can do so at a fraction of the usual cost.
The key to this is shared ownership. This
route to homeownership means that the
buyer purchases a share of equity in their
home and pays a subsidised rent to Hyde
New Homes for the unpurchased share. The
buyer can then purchase additional shares, at
any time convenient to them, all the way up to
full ownership.
The great thing about this Governmentbacked scheme is that one can buy with a
smaller deposit, enabling buyers to get on
the property ladder more easily or afford to
move into a larger home. A 25% share of a
one bedroom apartment with podium garden
views at Eastman Village, for example, costs
£84,250. To purchase it, a buyer would need
a minimum 10% deposit of just £8,425. The
full market value of this home is £337,000. It
would require £33,700 deposit if one were to
buy the same home outright.
Owning a home at Eastman Village
through shared ownership means buyers
don’t have to compromise on quality, location
or anything else. Offering outstanding
transport connections, the current phase of
homes is known as The Focus Collection in
a nod to the site’s location, which was home
to the UK’s Kodak factory for over a century.
Direct rail services from nearby Harrow
& Wealdstone station take commuters to
Euston in as little as 12 minutes on the
newly named Lioness Line, with around 143
trains running daily.* Underground services
also run from Harrow & Wealdstone, with

First Time Buyer April/May 2024

Bakerloo Line services to Paddington and
Oxford Circus taking 28 minutes and 36
minutes respectively. The transport options
make travelling into London incredibly easy,
whether as a daily commute or simply to
enjoy some downtime in the capital.
The Focus Collection at Eastman Village
currently offers a range of one bedroom
apartments. Every home comes with its own
outdoor space in the form of a private terrace
or balcony, along with access to impressive
communal landscaped gardens. Cycle storage
is provided for those who prefer to explore
London by bike. Internally, the homes feature
a high specification as standard including
contemporary kitchen units with integrated
appliances. Thoughtful practical touches, such
as the inclusion of a fitted wardrobe in the
bedroom and stylish flooring throughout, are

also incorporated and buyers benefit from
three months’ free Hyperoptic broadband.
Minnie Dando, Head of Marketing &
Communications at Hyde New Homes,
comments, “Londoners shouldn’t have to
make compromises when purchasing their
home – and at Eastman Village, they don’t
have to. They can enjoy decorating and
personalising their brand new home to
their taste, and will relish their own outdoor
space, all within an attractive location at
the heart of a bustling new community with
outstanding connectivity.”
hydenewhomes.co.uk/shared-ownership-byeastman-village
*londonnorthwesternrailway.co.uk/train-times/harrow-andwealdstone-to-london-euston

AFFORDABLE HOMES

DEMAND FOR
HOMEOWNERSHIP PEAKS
AS POPULARITY SOARS FOR
HOMES AT LEASIDE LOCK
It’s no secret that house hunters have faced many obstacles over the past year, battling
increasing interest rates and the cost-of-living crisis. However, a recent survey from Savills
has revealed that commitment to moving home is at “its strongest in over a year”, with 30% of
respondents determined to move house in the next six months.* This increased motivation
among hopeful buyers is expected to significantly drive demand for affordable developments
across London in the first quarter of 2024
Proving hugely popular with first time
buyers, Leaside Lock has already seen
a staggering 85% of apartments reserved
since launching. Now, with all one and
three bedroom homes snapped up at the
Bromley-by-Bow development, just one
final collection of two bedroom apartments
remains in the current phase.
London and South East Regional Sales
Manager at Guinness Homes, Hellyn
Fairbrother, comments, “We are seeing first
hand how committed hopeful buyers are to
moving home in 2024, with demand for our
shared ownership apartments at Leaside
Lock soaring.
“The overwhelming popularity of our
homes at Leaside Lock since launching in
2021 has been fantastic to see, and we are
excited to now be offering a final collection
of two bedroom apartments in the current
phase. We’re expecting to see high levels
of interest for these new homes, as buyers
move quickly to secure their space at our
hugely popular east London development.”
The major new development will
ultimately comprise 965 homes, forming
a new focal point for the area. Creating
a lively new community-focused
neighbourhood, a broad range of soughtafter amenities are planned on site,
including a cafe, a gym, a convenience store
and a co-working space set to open in 2025.
Providing an opportunity for first time
buyers to step on to the property ladder
in a high-quality, contemporary home,
Leaside Lock offers the perfect balance
between affordability and premium living.
Kitchens are complete with fully integrated
Bosch appliances, while private balconies
offer an extension of the living space – the
perfect spot to host springtime gatherings
with family and friends.

40 First Time Buyer April/May 2024

Leaside Lock is ideally positioned for
residents to enjoy all that east London
living has to offer. Situated in a vibrant
community, the apartments are located
close to a plethora of local shops,
restaurants, and green spaces.
A short walk from the development is
Roman Road, a historic street lined with
independent cafes, boutiques and bakeries,
where three times a week a 150-year-old
market brings fashion stalls, fresh produce
and delicious street food to both locals and
visitors. Ideal for families, London’s tallest
sculpture, ArcelorMittal Orbit, is less than
a 10-minute cycle ride away from Leaside
Lock, and is home to the world’s longest
tunnel slide – perfect for an exciting
afternoon out.
For those in search of a space to unwind
from the buzz of the city, Leaside Lock
offers a great waterside location – Stratford
and Olympic Park, where residents can
find stretches of vast outdoor space, can be
reached along the river towpath. Victoria
Park is close by and is ideal for outdoor

sports with its running trails, tennis courts
and sports ground. Also nearby, Three Mills
Island hosts local events and has plenty of
green space to enjoy including an outdoor
children’s play area.
Perfect for daily commuters and
weekend explorers alike, the apartments
are just a three-minute walk from Zone
2 Bromley-by-Bow tube station, which
connects to central London and out
towards Stratford on the District Line and
the Hammersmith and City Line. Devons
Road DLR station is also a few minutes’
walk from the development, connecting to
Canary Wharf in just seven minutes.**
Shared ownership prices start from
£116,875 for a 25% share of a two bedroom
home (full market value £467,500).
Call our sales team on 020 8131 7495 or visit
leasidelock.com to book an appointment
Shared ownership terms and conditions apply
* Savills, January 2024
** Distance taken from google.co.uk/maps

NEW HOMES

BUYING A NEW BUILD IS A
GREAT WAY TO INVEST
“All millennials should be
acutely aware of the benefits
of buying a new home. Any
romantic ideas about buying
an old home and pouring
time, money and effort into
it with the hope of making
a huge profit should be
banished from their minds”
These are the collective words of so
many buyers interviewed by money
expert and journalist Sara Yates. “Young
buyers dream of converting an old Victorian
flat, with a big fireplace, and tall sash
windows. Once they do their homework and
learn of all the rules and regulations needed
to make that home sustainable, they realise
that they just cannot afford it. And they do
not want to devote every precious weekend
and evening to a project that still generates
high energy bills and endless problems,”
says Sara.
Weston Homes is a new build specialist
and has devoted years to the ongoing
research and development of its products.
Family-led Weston Homes invested
£40m in its second high-tech, robotically
controlled factory to reach the high
standards of sustainability used to build
premium new homes.
The aim is to offer buyers an affordably
priced property designed with top class
fixtures and fittings, and a quality build that
has earned the company gold medals and
praise throughout the industry.
New homes are not just energy efficient;
their high-performance design is finely
tuned with materials that are made to last.
To ensure peace of mind, every
Weston Homes property comes with a
building warranty and insurance – the
most common being Buildmark from the
National House Building Council (NHBC).
The cover provides deposit protection
after contracts have been exchanged, a
developer’s warranty for two years after
legal completion, and then insurance
against any unlikely structural defects for
another eight years. And the new quality
kitchen appliances all come with warranties
as well.
The must-have Energy Performance
Certificate is a doddle with a new build
as they are typically rated B and above.

42 First Time Buyer April/May 2024

For older properties this can
cost thousands of pounds
to achieve in renovating old
boilers and insulating walls
and windows to the right
standards of efficiency.
Weston Homes offers
buyers an instant feel-good
factor and a hassle-free
lifestyle, with luxurious
extras, high-tech appliances
and designer kitchens all
included in the price. Buyers
of old homes soon realise the
enormous costs of buying a
fitted double wardrobe but Weston Homes
provides them in fully fitted carpeted
bedrooms with an en suite bathroom*
“which looks like something out of a fivestar hotel”, buyers say repeatedly.
And it is not until you have to make
the hard choice between buying a fantastic
weekend away or six door handles that you
realise the cost of accessories. In a new
Weston Homes property you can choose
from a wide range of accessories and colour
choices for floors, fitted kitchens, bathroom
joinery and tiles.
And when buyers decide to move on
to bigger things, their new build home is
photo-perfect for renting. High standard
new homes command a premium and are
snapped up by renters.

Weston Homes’ developments are
always built within walking distance of
transport links which appeals to buyers
with busy lives. So, travel costs are at a
minimum and bikes are encouraged.
Low bills and sustainable living near a
keep-fit bike route are what millennials are
looking for. Old homes are for rich romantics.
Weston Homes is an award-winning developer
building new and converted one to four bedroom
luxurious homes across London and the South
East from £250,000. For more information
contact Weston Homes on 01279 873 300, or
visit weston-homes.com. Marketing suites and
show homes are open daily from 10am to 5pm
*Speak to a sales consultant for plot-specific details

AFFORDABLE HOMES

A HIGH-QUALITY,
AFFORDABLE FIRST HOME
WITH PLACES FOR PEOPLE
Places for People’s Laconia
Place development in Milton
Keynes is a shining example
of how first time buyers can
have it all…
If you’re keen to step on to the property
ladder, with Places for People you’re in
safe hands. For over 50 years, this awardwinning developer has been creating
attractive and sustainable communities as
well as high-quality homes with enough
flexible living space to suit every lifestyle.
And thanks to a range of buying options, it’s
now easier than ever to secure your dream
new home.

LACONIA PLACE – A COMPLETE
LIVING EXPERIENCE
One such community is Laconia Place in
Milton Keynes, the final phase of Places for
People’s popular Brooklands development
of 2,500 mixed-tenure homes. Located
just 10 minutes from the centre of one of
the UK’s newest cities, the development
couldn’t be better situated – with London
only 50 miles away and easily reachable
within 30 minutes by train.
Given that Brooklands was begun
in 2006, Laconia Place is part of a wellestablished community that offers lots of
local amenities such as schools, shops and
restaurants and the ideal meeting place
at bustling Brooklands Square. Plus, the
community also benefits from a wellplanned and vast green space, adorned
with more than 100,000 trees, beautiful
nature trails, walks, ponds, play parks and a
14-hectare public park.

PERFECT FIRST HOMES
Of the 31 one and two bedroom modern
apartments completed as part of this final
phase, all were reserved off-plan. And it’s
not difficult to see why.
Perfect for first time buyers, these
contemporary homes offer spacious,
open-plan living with plenty of room for
relaxing, entertaining or working. Highspecification kitchens and bathrooms,
together with plenty of storage and

44 First Time Buyer April/May 2024

A CGI of a street scene at
Laconia Place, Milton Keynes

balconies to some of the homes, have only
added to their appeal.
Here, customers will be able to enjoy the
absolute best of modern living and benefit
from all the amenities of a thriving local
community, while also having easy access
to attractive green space for that all-round
feeling of wellbeing.

SHARED OWNERSHIP – A SIMPLE
WAY TO BUY NEW
All the homes were available to buy with
shared ownership, the Government-backed
scheme designed to help people step on
to the property ladder sooner. It works by
enabling eligible applicants to purchase an
affordable share of their new home (usually
between 25% and 75%) and pay a subsidised
rent on the remainder.
Importantly, your deposit starts from
just 5% of the share you buy – not the full
property price – so it’s smaller and therefore
quicker to save up. It’s a simple and costeffective way of buying new and you have
the option to buy more shares in your home
later, as finances allow.

OTHER LOCATIONS
The exceptional demand for homes at
Laconia Place means that the development

is now sold out, with customers already
settling into this popular community.
Happily, Places for People has several
developments across the South East, all
offering that winning combination of a
high-quality, affordable home in a soughtafter community.
Our Carvers Meadow and White House
Park developments are located close to
the bustling market town of Attleborough
in Norfolk, with its handy amenities and
good local schools. Choose from two, three
and four bedroom modern country homes,
all available to buy through the shared
ownership scheme.*
If coastal living appeals, our stylish one,
two and three bedroom shared ownership
homes at Shopwyke View in Chichester
come with an exquisite finish and the
chance to put down roots in the South
East’s “Best Place to Live”, as voted by The
Sunday Times.

MAKE YOUR MOVE
Why wait to make your dream first
move? Discover our new homes and
developments today.
Visit placesforpeople.co.uk/new-homes
*T&Cs apply – please see our website for details

AFFORDABLE HOMES

THE SKY IS THE LIMIT AT
ASPECT CROYDON

At a time when buying a home remains a challenging
prospect, Aspect Croydon by NHG Homes is bringing first
time buyers a combination of quality, style, and affordability
in this up-and-coming south London neighbourhood
Rising 25 storeys above the streets of
Croydon, the development’s unique Skyline
Collection offers buyers a taste of luxury
with rooftop apartments that provide views
of London from sunrise to sunset.
Across the development, all one, two and
three bedroom apartments are available
to purchase with shared ownership, giving
buyers the chance to get on the property
ladder at a more accessible price point than
when buying outright.
With an increasing number of people
choosing to start their homeownership
journey in Croydon, new residents at Aspect
Croydon will join a flourishing and vibrant
community, which is well connected to some
of London’s hidden gems.
Residents can enjoy Croydon’s bustling
hub of restaurants, bars and shops just
around the corner. At the historic Surrey
Street market, which dates back to the 13th
century, locals can shop for everything from
crafts to clothing, and be entertained by
interactive street theatre or musical acts.
Nearby Boxpark also offers plentiful options
for food and drink, and an event space
hosting film screenings, live music, comedy
nights and much more.
For those who enjoy time outdoors on a
morning dog-walk or weekend run, there is
ample green space within close reach at leafy
Wandle Park, Lloyd Park and Coombe Wood.

46 First Time Buyer April/May 2024

The development’s well-connected
location is ideal for first time buyers looking
to explore all that London has to offer. A
tram stop on the doorstep provides quick
routes throughout south London, and with
East Croydon station only five minutes
away by foot, residents can easily reach
central London, with London Bridge station
only a 15 minute journey. For those seeking
an adventure further away, residents can
make use of fast links to Gatwick airport,
which can be reached in 25 minutes by train
from East Croydon.
The contemporary apartments at Aspect
Croydon come fully equipped with many
sought-after features for first time buyers,
including integrated appliances such as
a dishwasher, fridge-freezer and washerdryer. Homes have also been designed to
support efficient living with underfloor
heating, ample storage space and energysaving technology used throughout.
A highlight of the homes are the private
winter gardens – multi-functional, sunlit
spaces offering far-reaching views of the
London skyline through fully enclosed
sliding glass screens. Floor-to-ceiling
windows fill the open-plan apartments with
natural light, creating welcoming spaces for
entertaining or relaxing.
Residents at Aspect Croydon also
benefit from a dedicated concierge

service and on-the-doorstep local shops
for grabbing the essentials – convenient
amenities for urban living.
Amie Triphook-Cole, Head of Marketing
and Digital at NHG Homes, said, “We’ve
designed homes at Aspect Croydon with
first time buyers in mind; bringing together
high-quality interiors and contemporary
architecture in a central location with
a dynamic local community. For shared
ownership buyers, the Skyline Collection
really is a rare opportunity, with fantastic
views in all directions that elevate the sense
of luxury these apartments provide.”
Homes at Aspect Croydon start from
£87,500 for a one bedroom, £108,750 for
a two bedroom and £127,500 for a three
bedroom apartment, each for a 25% share.
For more information on the properties available,
visit nhgsales.com/sales-developments/aspectcroydon or speak to the sales team on
020 3815 2222

LOCATION

HOTspot
Bethnal Green

REASONS WE LOVE…
BETHNAL GREEN

1 The traditional East End markets
2 York Hall – not your average leisure centre!
3 A strong sense of identity and community
4 Incredible food to suit all tastes
5 Eclectic culture and nightlife on the doorstep

Nestled at the heart of the London Borough of Tower
Hamlets, Bethnal Green is the epitome of the East
End. This diverse, multicultural neighbourhood
has successfully branched out, while staying
unapologetically true to its deeply embedded roots.
A warm and welcoming community awaits!

UNDER THE SPOTLIGHT

OUT AND ABOUT

The earliest form of Bethnal Green – Blithehale
– translates as "Happy Corner" and locals
attest that the area remains true to its name.
With Hackney to the north, Bow to the east,
Whitechapel to the south and Shoreditch to the
west, Bethnal Green’s location is hard to beat
for anyone looking to be immersed in "proper"
London life.
Just three miles from Charing Cross, Bethnal
Green is now unrecognisable from the farming
hamlet it evolved from. Over time, produce
gave way to weaving, dock and building
work, and later commuters would come to live
in the tightly packed terraces. Sadly, it was
heavily bombed during the Blitz and saw the
second world war's single worst loss of civilian
life when the Bethnal Green tube disaster left
173 dead; an event now commemorated by
a beautiful memorial at Bethnal Green tube
station in the form of an upturned staircase
bearing their names – the Stairway to Heaven.
Bethnal Green is extremely well connected.
The Zone 2 underground station means you
can be in Holborn in just 15 minutes. You also
have Bethnal Green and Cambridge Heath
stations on the London Overground between
Liverpool Street station and Cheshunt/Enfield
Town. Handily, Liverpool Street and the City of
London are both within walking distance. Bus

48 First Time Buyer April/May 2024

services are also plentiful. Driving? The speed
limit in the area is 20mph so public transport
is often quicker, but good to know that you are
just 20 minutes by car from London City airport.
Bethnal Green has an increasingly
diverse demographic. Historically, old
school eastenders and a large Bangladeshi
community made up the majority of the
population, but more recently there has been
an influx of young professionals; city workers
and creatives priced out of trendy Shoreditch
and Hackney. You can certainly get a lot more
for your money here – the area is also growing
in popularity with young families who are able
to upsize from flats to larger properties thanks
to the relatively low property prices.
Homes on offer in the area range
from period properties and
apartments
tments in converted
factories, to listed tower
blocks and everything
ything
in between!
Somehow, they
seem to all
seamlessly blend
in with the eclectic
vibe that gives this
unique area
its charm.

Bethnal Green has some v
very cool places
doorstep, not least the
to visit right on the doorstep
Young V&A, the world’s largest museum
Y
dedicated to childhood, which boasts an
houses.
incredible collection of 150 doll's houses
York Hall is another local gem – not many
Y
local leisure centres are home to one of
London’s last remaining Turkish Baths, or
London’
boxing competitions and
host international bo
concerts! You can also embrace the arts at
Rich Mix, a multipurpose arts centre with
a three-screen cinema and a programme
covering live music, spoken word, theatre,
co
dance, talks and visual art.
dance
Into the evening, you will be surprised
at what Bethnal Green has to offer – it
is widely recognised as home to some of
the best nightlife in London. There are
venues to enjoy, in
numerous small music v
Backyard Comedy Club; the
addition to the Backy
largest professional, purpose-built comedy
club in London. You will also find a great
selection of pubs and bars.
The railway arches are great
for trendy evening dining
– Arepa & Co, serving
Venezuelan fare, and
Boom Bap Burger
are two favourites
favourites.
However, the longer
standing eateries
should most
definitely not be
overlooked! There
are some fantastic
curry houses to

LOCATION

FAC T FIL E

Average property price in Bethnal Green
(December 2023) – £453,376
Property breakdown*
Detached − £808,724
Semi-detached − £700,727
Terraced − £631,060
Flat − £440,693

MARKET...
HOMES ON THE MARKET

FROM
£118,750*
(SHARED
OWNERSHIP)
FROM
FROM £500,000
(OPEN MARKET
SALE)

*According to the Land Registry House Price Index

FAMOUS RESIDENTS
• Libertines Pete Doherty and Carl Barât
• Singer and presenter Cheryl Baker
• Actor Ralph Fiennes
• Comedian Micky Flanagan
• Actor Felicity Jones

tantalise your taste buds, but food doesn’t
get much better than Pellicci’s – run by the
same family for over a century and serving
full English breakfasts alongside classic
Italian dishes. Alternatively, for a true taste
of the East End, try G Kelly’s eel and pie
shop. Fancy something out of the ordinary?
Head to Lady Dinah’s Cat Emporium,
London’s original cat cafe!
Bethnal Green is a treasure trove
of delights for shopping too. Where
Shoreditch runs into Bethnal Green, the
shops reflect the hip customers – vintage
clothing, trainers and vinyl record shops
are plentiful! Head further into Bethnal
Green to find traditional Bangladeshi
shops, independent retailers and high
street stores. Bethnall Green Market runs
8am to 6pm Monday to Saturday and sells
everything from fresh produce to clothing.
The famous Columbia Road Flower
Market is packed out on a Sunday so arrive
early, or try your luck at the end of the day
for bargain blooms for your new home!
Green spaces are plentiful. Museum
Gardens and Bethnal Green Gardens
are popular with families, and the latter
includes play areas, a football pitch and
basketball area, while Weavers Field is the
larger park with three full-size football
pitches. However, Victoria Park is the real
jewel in most locals’ books – it has a lake
with rowing boats for hire and the adjacent
Regent’s Canal to enjoy.

BETHNAL GREEN
Corner Place
These beautiful apartments from
Southern Housing offer one, two
and three bedroom homes available
through shared ownership and open
market sale.
Exactly the same high
specification has been used across
the homes for shared ownership
and open market sale, including
kitchens designed by Champion
with integrated appliances, a 4-in-1
instant boiling chrome kitchen sink
mixer tap and a massage shower set
over the bath. The open-plan living
space features large windows to let
in lots of natural light and there are
LED downlighters to the hallway,
living room, kitchen and bathrooms
and underfloor heating. Each home
also comes with a spacious balcony,
terrace or a winter garden.

THE LOCAL AREA
Nestled between Bethnal Green and Spitalfields, Corner Place offers residents sublime London
living in the heart of the city’s vibrant and bustling East End.
Everything’s right on your doorstep, with convenient access to central London, and an eclectic
mix of upscale bars, restaurants, amenities and nightlife in the local area. Old Spitalfields Market,
Brick Lane and Bethnal Green Gardens are just a stone’s throw away, while the calming open
spaces of Weavers Fields and Victoria Park are just a short distance from the development. The
apartments are also close to several schools and various supermarkets.
shnewhomes.co.uk/properties/Corner-place
*Based on a 25% share with a full market value of £475,000

First Time Buyer April/May 2024

NEW HOMES

FALL IN LOVE WITH
A HOME IN ONE OF
THE SOUTH’S MOST
AFFORDABLE COUNTIES
Known as the “Garden of England”’ with its beautiful rolling hills, 350-mile stretch of sandy
beaches and chalky cliffs, it may come as a surprise to house hunters that Kent is one of the
most affordable places to live in the South East. For buyers keen on moving into the area
and making the most of unrivalled scenery and accompanying house prices, Elivia Homes
has recently unveiled a new show home at Lanthorne Place. Situated just moments from
the coastline in Broadstairs, a selection of properties at Lanthorne Place also fall under the
Stamp Duty threshold, making a new home in the picturesque county e
even more affordable

Designed by leading company Blocc
Interiors, the new three bedroom show
home, The Appledore, will give customers
the opportunity to see Elivia Homes’
signature specification first hand, while
being able to visualise themselves living in
a home at Lanthorne Place.
Highlighting the true affordability
of homes in Kent, the one bedroom
apartments at Lanthorne Place are
priced at the Stamp Duty threshold at
£250,000, meaning buyers can save on the
additional fees that come with buying a
home. Lanthorne Place is also the perfect
choice for a first home, as a selection of
two bedroom homes start from £320,000
and three bedroom homes are priced from
£395,000, all falling under the £425,000
Stamp Duty threshold for first time buyers.
Philip Brown, Sales and Marketing
Director at Elivia Homes, comments, “Kent
has always been a desirable place to live.
As one of the home counties, its proximity
to London has meant that it’s a popular
place to settle down for commuters, but it
also appeals to those who want to live a
slower pace of life. At Lanthorne Place we
cater to all of these different buyer profiles,

50 First Time Buyer April/May 2024

from two bedroom houses that make the
ideal first home, to larger family houses and
smaller apartments for downsizers, there
truly is something for everyone.”
Nestled on a quiet residential road,
Lanthorne Place is home to 53 beautifully
designed properties ranging from one to
four bedrooms. The Appledore is a shining
example of the exceptional quality available
to buyers. On the ground floor of the
property, an entrance hallway leads into an
open-plan living/dining room with French
doors on to the private garden. A separate
kitchen, complete with an integrated fridgefreezer, washer-dryer and dishwasher, offers
a stylish, functional space to prepare meals.
Upstairs, the landing leads into a large
main bedroom with fitted wardrobes and
an en suite shower room. Two further
bedrooms and a sizeable family bathroom
with contemporary white sanitaryware
complete the first floor. Externally, The
Appledore also comes with a managed car
barn and separate car parking space.
Broadstairs’ eclectic town centre is
just a 20-minute walk from Lanthorne
Place, where residents will find a selection
of shops, restaurants, bars and leisure

amenities. No matter the season, the
Charles Dickens pub, Thirty-Nine Steps
Brewhouse and Bessie’s Tea Parlour are
delightfully inviting, as is the fine dining on
offer at Stark.
The local area is home to a wealth
of Outstanding-rated educational
establishments, including eight within a
three-mile radius of the development. St
Mildred’s Primary Infant School, Upton
Junior School, Dane Court Grammar
School and Broadstairs College between
them cater for children at all stages of their
educational journey.
Homebuyers at Lanthorne Place are
conveniently located for commuting, and
travel across the South East and beyond.
The popular seaside town of Ramsgate is
a 12-minute drive away, while Broadstairs
station – a four-minute drive – provides direct
train services to London St Pancras (in 80
minutes) and London Victoria (two hours).
Elivia Homes is currently offering £5,000
towards moving fees and Stamp Duty on homes
under £425,000 at Lanthorne Place. Prices start
from £250,000. For further information, visit
eliviahomes.co.uk/developments/lanthorne-place

NEW HOMES

SPACE TO BREATHE
Green spaces, great travel connections and beautifully finished homes – Countryside has just
what you are looking for in London
One of the greatest things about living
in the capital is the combination of
exciting city life and green open spaces.
Add in convenient public transport,
fantastic shopping, fascinating attractions
and restaurants from around the world
wherever you look, then London is
definitely the place to set up home.
Offering a wide range of properties in
and around the capital, Countryside is a
five-star housebuilder, rated by the Home
Builders Federation for the high quality
of its customer service, with more than
90% of buyers happy to recommend it.
Countryside’s speciality is designing places
people love and helping to build successful
communities, using high-quality design and
construction to create a positive legacy for
future generations.
Its latest London developments may be
in different areas of the capital, but they
both share the same features that have
helped to make Countryside so popular
with customers – spacious homes with
private outdoor space, well designed openplan living areas and good-quality finishes,
set in convenient, well-connected locations
with plenty of access to superb open spaces.
For those looking for a central location,
Greenwich Millennium Village is perfectly
located in The Royal Borough Greenwich,
just a stone’s throw from the O2 with
its wealth of leisure and entertainment
opportunities. North Greenwich station,
Zone 2/3, is a few minutes’ walk away, with
services to the business capital of Canary
Wharf taking just two minutes, Stratford
nine minutes and London City airport 15
minutes. From Canary Wharf, the Elizabeth
Line opens up transport right across
London, whisking commuters to Liverpool
Street in six minutes, Paddington in 17
minutes and Heathrow airport in three
quarters of an hour.
The latest release of homes at
Countryside Greenwich Millennium Village
is The Galleria, a collection of superb
apartments and maisonettes with river and
city views in a stunning setting alongside
the green expanse of the Southern Park,
leading to the four-acre ecology park. This
wildlife-rich area is home to 85 different
species of bird and 20 different types of
butterfly, making the most of the lakes,
marshes, meadows and woodland that make
up this picture-perfect spot.
Greenwich Millennium Village will
eventually have 2,800 new homes, and

52 First Time Buyer April/May 2024

Greenwich Millennium Village

is already a thriving community, with a
primary school rated as Outstanding by
Ofsted, a nursery, convenience store, cafe
and pharmacy. The Millennium Leisure
Park a few steps away offers a multiplex
cinema, IKEA and a variety of restaurants.
The one and two bedroom Countryside
apartments currently available overlook
either the park or the podium garden and
feature a balcony or terrace, contemporary
kitchen with stone worktops, Bosch
integrated appliances, fitted wardrobes
to the main bedroom, engineered timber,
ceramic tile and carpet throughout,
underfloor heating and a concierge service.
Prices start from £449,995.
Slightly further from the centre of
London, Edge, Hainault in the London
Borough of Redbridge is less than a mile
away from Hainault and Grange Hill
stations, which offer services to London
Liverpool Street in half an hour via the
Central Line.
Close to the green belt, residents of Edge
can walk to the beautiful Fairlop Water
Country Park in just half an hour, with
open-air bouldering, a fishing lake and wide
open spaces to enjoy, or head in the other

Edge, Hainault

direction to explore the ancient trees, lake
and cafe at Hainault Forest.
Homes at Edge, Hainault range from one
to three bedrooms and include a balcony
or terrace, open-plan kitchen, living and
dining area and main bedroom with a fitted
mirrored wardrobe. Some of the larger homes
also feature an en suite to the main bedroom
and the option to buy a parking space. A
range of appliances is included, along with
flooring throughout. Prices from £294,995.
Countryside is currently offering a 5% deposit
contribution at both developments (T&Cs apply).
For more information visit countrysidehomes.com

AFFORDABLE HOMES

BEGIN YOUR BUYING
JOURNEY WITH HOME
REACH AT DOVER COURT,
SOUTHALL
Navigating the housing market as a first time buyer can feel daunting at the best of times
– and the constant changes in interest rates certainly haven’t helped calm the nerves of
many house hunters, particularly in the capital where prices are often much higher
Hoping to reassure buyers is Home
Reach, a shared ownership provider
with a wide range of part-buy, part-rent
developments available across the whole of
the country – including Dover Court, located
in well-connected Southall.
An exclusive development of one and
two bedroom shared ownership apartments
offering spaces fit for modern living, Dover
Court is ideal for prospective purchasers in
search of the ultimate city base. Featuring
contemporary, open-plan kitchens complete
with integrated Hotpoint appliances and
quartz worktops – ideal for hosting friends
and family – and spacious bathrooms
complete with Hansgrohe showers and
underfloor heating, the apartments also
offer access to a balcony or terrace, as well
as a residents’ landscaped garden.
Dover Court’s excellent west London
location offers a regular service into the
capital – ideal for commuters and weekend
explorers alike. Residents can easily access
central London via the Elizabeth Line at
Southall station, an 11-minute walk from
Dover Court, which reaches Paddington in
just 18 minutes – ideal for a quick trip into
town, and beyond.
For those looking to stay closer to home,
Southall’s buzzing neighbourhood has a
fantastic range of amenities close by, with
residents spoilt for choice. From a range
of Indian and South Asian restaurants,
supermarkets and stalls, to jewellery stores
and boutique shops, Southall’s high street is
within easy walking distance.
With an impressive array of green
spaces including Osterley Park, walkable
in 30 minutes, buyers at Dover Court can
enjoy space to relax and unwind away
from the buzz of the city. There are also two
conveniently located gyms, The Gym Group
and Featherstone Sports Centre, along
with the nearby West Middlesex Golf Club
– ideally situated to elevate the lifestyle of
Dover Court residents.

54 First Time Buyer April/May 2024

As one of the largest homeownership
programmes in the UK, Home Reach aims
to make housing across the UK more
affordable and accessible for aspiring
homeowners. This Government-backed
shared ownership scheme is available
to eligible first time buyers. With shares
starting from 25% and minimum deposits of
5%, Home Reach is giving first time buyers
the opportunity to step on to the property
ladder for a fraction of the price compared
to the open market.
As a guide of how this would work with
Home Reach’s Dover Court development,
it means that for a property which has a

full market value of £300,000 with shares
beginning from 25%, a mortgage of just
£71,250 is needed. With 5% deposits starting
from £3,750, buyers require a much smaller
deposit than when buying on the open
market. Shared owners pay a mortgage
on the share they own, and pay rent to a
housing provider, such as Home Reach, on
the portion they do not own.
Prices for a one bedroom apartment at
Dover Court start from £75,000 for a 25%
share (full market value of £300,000), and
deposits from £3,750.
For more information, visit homereach.org.uk

LOCATION

HOTspot
Bermondsey

REASONS WE LOVE…
BERMONDSEY

1 The River Thames, of course!
2 Incredible community spirit
3 The Bermondsey Beer Mile
4 Green spaces to retreat to
5 The food – from street food to upmarket restaurants

Bermondsey was hailed by The Times in 2018 as
London’s Best Place to Live. Don’t worry, you haven’t
missed the boat – this broad stretch of south east
London still has plenty on offer for first time buyers
looking to be at the centre of the action

UNDER THE SPOTLIGHT

OUT AND ABOUT

Located south of the river, in the London
Borough of Southwark, Bermondsey is a busy
and bustling part of town, stretching from
Tower Bridge to the Old Kent Road. Described
for a long time as "up-and-coming", it is fair
to say that Bermondsey has now well and
truly arrived.
Bermondsey is a living museum, showcasing
the area’s rich history with pride. From St
Mary Magdalen Church in Bermondsey Street
(completed in 1690), to the wharves of the
20th century, to modern developments in
regenerated warehouses. The result is a visual
cacophony, an assault on the senses almost,
but somehow it all comes together to create a
cohesive – and thriving – urban community.
Bermondsey is perfectly positioned for
easy travel in and around the capital and the
South East. Bermondsey tube station, on the
Jubilee Line, is in Zone 2, while nearby London
Bridge and Borough stations are in Zone 1.
The commute to Canary Wharf is less than 10
minutes, making this a particularly popular spot
for city workers to reside.
On the Overground, South Bermondsey
railway station is also local and links to London

56 First Time Buyer April/May 2024

Bridge in minutes. Numerous bus services,
including night buses, serve the area or, for a
scenic alternative, you can travel by river on
the Uber Thames Clipper service.
London is known as a melting-pot of ethnicity
and culture, and Bermondsey certainly reflects
this. The diverse population gives the location
a cosmopolitan feel. Homes in the area are
highly sought-after by young professionals and
families alike, and all are catered to. There
are beautiful period properties, comfortable
terraced homes and contemporary apartments
in abundance. The regeneration of the
riverside has brought some
particularly
ticularly impressive
developments,
many with
enviable
amenities
including
concierge
services
and
handy
residents’
gyms.

Bermondse cultural and historical
Bermondsey’s
draw tourists to the area in their
attractions dra
droves and regeneration has brought with
dro
it further popular attractions including
Fashion and
the Design Museum and F
Textile Museum. The area is also famous
T
Friday’s
for its antique dealers and for F
Bermondsey Square.
antiques market in Bermondse
Into art? Head to the White Cube Gallery
Bermondsey Street; Europe’s largest
on Bermondse
space.
commercial gallery space
Locals eagerly anticipate annual
events including Bermondsey
community e
Carnival and Bermondsey Street Festival,
Carniv
over 20,000 people. A strong
which attracts o
evident here, and at the
community spirit is e
countless seasonal markets and pop-up
events hosted and enjoyed by residents.
e
Bermondsey lends itself to an active
lifestyle, from strolling, jogging or cycling
lifestyle
by the Thames, working out in one of
b
the numerous gyms or joining a sports
team. Southwark Park boasts an athletics
track, tennis court, football pitches
and bowls club, in addition to a
lake. Tanner
summer boating lake
Street Park, Burgess P
Park
and Paterson Park are also
local, and you can’
can’t beat
Bermondsey Spa Gardens
haven.
for a true city ha
Park
Stave Hill Ecological P
in Rotherhithe is also
well worth a visit. Run
by volunteers, it has been
designed and managed to

LOCATION

FAC T FIL E

Average property price in Bermondsey
(December 2023) – £535,918
Property breakdown*
Detached − £1,813,538
Semi-detached − £1,076,173
Terraced − £798,074
Flat − £456,598

MARKET...
HOMES ON THE MARKET

FROM
£450,000

*According to the Land Registry House Price Index

FAMOUS RESIDENTS
• Boxer David Haye
• Eastenders actor Gillian Wright
• YouTuber Joshua Bradley, aka Zerkaa
• Footballer Katie Chapman
• Actor Jamie Foreman

form a mosaic of grassland, woodland,
scrub and wetland habitats.
Bermondsey has a selection of
shopping locales, including the charming
Bermondsey Street, but the one that best
epitomises the area is The Blue; locals
often talk of “going down The Blue” to do
their shopping, and the area is known
for its independent stores and personal
service. Old Kent Road is home to Lidl,
Asda, Tesco, Argos and B&Q.
Bermondsey is known for its array of
places to eat. Donnelly’s Restaurant is a
fine example, serving fresh, UK-grown
produce in the form of delicious sharing
plates. José Tapas Bar on Bermondsey
Street is another favourite. More informal
eateries are also plentiful with an
abundance of cafes to enjoy a relaxed
brunch, or pubs to tuck into a Sunday roast.
On the subject of pubs, there are far
too many to list! Many believe the best
way to sample the local offerings is on
the Bermondsey Beer Mile. Now closer
to two miles, the journey will take you
to more than 20 bars and breweries,
from Southwark Brewing Co and Kanpai
Taproom & Kitchen on Druid Street, via It
Ain’t Much if it Ain’t Dutch on Enid Street,
through to Fourpure on Bermondsey
Trading Estate. If you make it through to
the evening, Bermondsey Bar and Hide Bar
come highly recommended and both offer
live music.

BERMONDSEY
école
Right in the heart of Bermondsey,
this new collection of properties
from Higgins Homes is inspirational.
There is a studio, one and two
bedroom apartments and duplexes,
in one of the city’s most vibrant
neighbourhoods.
Built on the site of a relocated
school, the name école is perfect.
What makes these homes stand out
from the crowd is the attention to
detail and very high specification.
ROK kitchens include Bosch
integrated appliances, with an
electric oven, induction hob, fridge-freezer, dishwasher and integrated microwave – there’s even
a Hafele pull-out wastebin and a washer-dryer in the utility cupboard. Luxurious bathrooms and en
suites are spacious and equipped with a full-height fitted mirror, recessed towel box and a large
chrome shower head plus a secondary handset to the shower enclosure in the en suites. Nothing
has been forgotten here, including your safety, with a video entry system, smoke detector and a
fire sprinkler system. Apartments and duplexes offer gardens or balconies with inspiring views of
central London and beyond.
For those who want some green space, Southwark Park is nearby and Stave Hill Ecological
Park will enthral nature lovers with meadows, streams and wetlands. école is a 10-minute walk
to Bermondsey underground station where you can reach Waterloo in 14 minutes and Stratford
in 24 minutes. If cycling is your preferred form of travel then it’s only nine minutes to London
Bridge and 12 minutes to Elephant & Castle. Food and drink is on hand with a wealth of cafes,
restaurants, pubs and, of course, the famous Borough Market.
Southwark has seen many changes in recent years and Bermondsey topped the 2018 Sunday
Times survey as the best place to call home – école is a gem in the heart of south London and this
development is not one to miss
ecolelondon.co.uk
020 8498 6112

First Time Buyer April/May 2024

AFFORDABLE HOMES

FROM RENTER’S RUT
TO BUYER’S BLISS
Did you know renters in London are splashing out an
additional £1,200 per year, equivalent to an extra month’s
rent annually¹? For aspiring homeowners, finding a readyto-move-into property is an attractive prospect to get out
of the renting rut. But with first time buyers putting down
an average deposit of £53,414 in 2023², many may fear that
desirable London Zone 1 hotspots like Oval, Islington and
Battersea are out of reach. However, with Peabody New
Homes’ range of shared ownership apartments, renters can
take their first steps on to the property ladder in 2024 with
deposits from as little as £6,813*
Lisa Crush, Sales Director at Peabody
New Homes, explains why now is the
right time for renters to take their first
steps on to the property ladder, “For
many renters, increasing costs can be a real
challenge when looking to save a deposit
for a new home. Shared ownership could
be the solution for those hoping to get on
to the property ladder with a lower deposit.
Through shared ownership, you only need
to put down a deposit based on the share
you buy – typically between 25% and 75%
of the property’s full value – which can be
significantly more achievable, meaning you
may be able to buy a great quality home
without having to compromise on location!”

Olivia, New Mansion Square homeowner

Rented: Balham – Bought: Battersea
With the lease ending on her shared rental
home in Balham, Olivia, 26, decided to fly
solo and purchase a place of her own at
New Mansion Square. “I was determined to
have my own space, but when I looked at
one bedroom rental properties in the area a
lot of them were really expensive and I can
imagine that I’d be looking at a minimum of
£3,000 to rent somewhere nice in the area.
Buying through shared ownership at New
Mansion Square means I am investing in a
space of my own, in a location I love.”
Deposits at New Mansion Square start
from £14,125*

58 First Time Buyer April/May 2024

City Angel Wi-Fi
enabled garden.

Tabby, Zone at Oval Village homeowner

Rented: Wapping – Bought: Oval, Vauxhall
Tabby, 29, was co-renting a three bedroom
maisonette in Wapping when she discovered
she could afford to buy in Zone 1 through
shared ownership. “I saw an advert for Zone
at Oval Village on social media, and I was
shocked to see that the price being advertised
was within my budget.”
Now I can call it my home, the biggest
surprise for me was the incredible roof
garden. It has 360° views across London and
you can see every single one of the typical
London tourist attractions, from Canary
Wharf, round to Big Ben and the London
Eye and then towards the Battersea towers.”
Like many young professionals, Tabby
enjoys meeting friends at the weekend, and
her new home has made this even easier:
“Every time I go into central London I’m
shocked at just how close I am.” As well
as three underground stations close by,
Vauxhall is just an eight-minute walk away
and river boat services can be accessed
from St George Wharf.
Deposits at Zone at Oval Village start from
£6,813*

City Angel, Islington EC1 – Deposits
from £11,750*
For buyers looking to make themselves at
home in one of Islington’s most exciting
neighbourhoods, City Angel ticks a lot of
boxes. Residents at City Angel can enjoy
more than just a home, with access to a
variety of on-site amenities opening soon
including a gym and residents’ lounge.
Buyers can also explore the development’s
extensive green space, from tree-lined
parkland to intimate garden squares. With
average monthly costs for those buying a
one bedroom apartment through shared
ownership at City Angel £964 below the
average rental costs for similar properties in
the area³, buying a property could be more
affordable than people think.
All the homes mentioned here are ready to
move into now, so discover shared ownership
and a more affordable way to own your own
home with Peabody New Homes at
peabodynewhomes.co.uk/deposits
1zoopla.co.uk/discover/property-news/renters-paying-anextra-months-rent-per-year-january-2024/
2lloydsbankinggroup.com/media/press-releases/2024/
halifax-2024/almost-two-thirds-of-first-time-buyers-teamingup.html
3Average monthly cost of a one bedroom apartment at
City Angel compared to average rental prices of a one
bedroom new build apartment within a half-mile range
of City Angel. Data: Rightmove Rental Private Data,
September 2023
*Deposits subject to availability of selected shared
ownership homes. See development details and
webpages for further details and T&Cs. Figures accurate
as of 19 February 2024
Computer generated image for guidance purposes only

AFFORDABLE HOMES

Galloways Reach

EMBRACE A LANCASHIRE
WARM WELCOME WITH
SNUGG HOMES
From the countryside to
the coastal waterways
lies Lancashire, a friendly
county in the North West
of England with a rich
history, heaps of Northern
charm and treasures lying
in every corner. And with
shared ownership specialist
Snugg Homes, you can find
a home of your own in this
slice of paradise for as little
as £50,000
LOVE LIFE IN PRESTON
AND BEYOND
Nestled within the rolling hills of
Lancashire sits the charming city of
Preston, named as one of the best places to
live for families in the UK.
It is home to a bustling shopping scene
with a mix of high street and independent
shops. The city is rich in trendy bars,
restaurants, traditional pubs and a thriving
cafe culture, meaning you’ll be inundated
with new spots to try out.

60 First Time Buyer April/May 2024

D’urton Heights

It’s also the perfect transport hub
for those commuting in and around the
North West. With Preston train station on
the West Coast railway line and the M6
close by, you can travel with ease around
Lancashire and visit the vibrant cities of
Manchester and Liverpool, both less than
30 miles away.
The surrounding countryside is also not
to be missed, with the remarkable Fylde
coastline a 30-minute drive away and
several walking trails, quaint villages and
nature reserves waiting for you to explore.

FIND YOUR DREAM PLACE WITH
SNUGG HOMES
Snugg Homes has a wide range of spectacular
shared ownership developments available
across Lancashire and Preston that are ideal
for first time buyers to settle down into.

D’URTON HEIGHTS,
BROUGHTON, PRESTON
Located in the village of Broughton, D’urton
Heights offers an elegant collection of two

AFFORDABLE HOMES

bedroom mews and semi-detached homes
with contemporary living at their core. Here
you can truly enjoy the best of both worlds
as you’ll be just five miles from Preston and
the city’s vibrant culture and close enough
to explore the rolling hills of Lancashire’s
expansive countryside. Prices are TBC.

RIVERSIDE WALK,
GARSTANG, WYRE
Riverside Walk’s high-spec two and three
bedroom homes ensure you can enjoy
quality living in these modern, energyefficient properties. With a large lounge
and a fully fitted kitchen/dining area, this
is the perfect place for those looking for
a contemporary space. Riverside Walk’s
location in the ancient market town of
Garstang means you can enjoy the very
best that Lancashire has to offer – from
scenic walking routes to traditional pub
fayre and excellent public transport links
across the North West. Prices start from as
little as £50,500.

GALLOWAYS REACH,
GALGATE, LANCASHIRE
A stone’s throw from one of the UK’s only
coastal waterways lies Galloways Reach, a
stunning development in Galgate village
with a range of two and three bedroom
semi-detached homes, mews-style homes

Bowland Rise

and bungalows. These charming properties
have been designed to complement the
natural beauty of the surrounding area, with
winding riverside walks, a peaceful marina
and Lancashire’s impressive countryside all
within close proximity. Prices are TBC.

BOWLAND RISE,
DOLPHINHOLME, LANCASHIRE
Positioned on the Wyre Way walking trail
sits Bowland Rise, a stylish collection of
three bedroom semi-detached homes
perfect for first time buyers or growing
families. While you can relax with plenty
of surrounding tranquil green spaces,
Dolphinholme ensures you’ll stay in

touching distance of Preston, Liverpool
and Manchester, which are well connected
by road, making this the ideal location for
commuters. Prices here start from as little
as £66,313.

HERE TO HELP
The Snugg Homes team is on hand to
answer any of the questions you may have
about shared ownership or any of our
impressive developments and will support
you every step of the way in your journey to
homeownership.
To register your interest, please visit our website
snugghomes.co.uk. You can also follow us on
@SnuggHomes on X/Twitter or @snugghomes
on Instagram and TikTok

Riverside Walk

First Time Buyer April/May 2024

AFFORDABLE HOMES

NATURE’S NEIGHBOUR
Thrive’s new shared
ownership development in
Hertfordshire is just steps
away from a country park,
bringing together the best of
town and country
Parkside, in Garston, Watford, is a brand
new community of one, two and three
bedroom shared ownership apartments
from Thrive, perfectly positioned with direct
access into the 16-acre Garston Park right
next door.
Whether you fancy an early morning
run, a walk with the dog or a place to
keep the kids amused, Garston Park has
everything you need, from a children’s
playground with accessible equipment to
an outdoor gym, a skate park, table tennis
tables and a football pitch. For those who
prefer to relax, half of the space is given
over to wildlife, with a stream and woodland
area perfect for a quiet summer picnic.
As well as all that nature on the
doorstep, residents at Parkside can also
enjoy the spacious communal garden with
areas to grow vegetables as well as sit
and relax. Nature is encouraged here too,
with insect hotels, bat boxes and log piles,
all helping to increase the biodiversity of
the area and provide a peaceful haven for
everyone to enjoy.
The new homes at Parkside feature
light-filled open-plan living spaces,
complete with their own private balcony or
terrace, contemporary handleless kitchens
with a range of integrated appliances, and
good quality flooring throughout. All two
and three bedroom homes also feature an
en suite to the main bedroom and every
apartment has an allocated parking space
as well as free car club membership. The
apartment options available include a
stunning three bedroom duplex apartment
with an L-shaped terrace, open-plan living,

62 First Time Buyer April/May 2024

dining and kitchen area, and WC on the
lower floor, plus a main bedroom with en
suite, two further bedrooms and a family
bathroom upstairs.
The new development on St Albans
Road has plenty of amenities within a
short stroll, including a bakery, pharmacy
and convenience store, while the centre of
Watford is a convenient 10-minute drive
away. In Watford itself there is a wealth
of entertainment possibilities including a
multiscreen cinema, bowling and the latenight dance bar Popworld.
Just up the road, Watford Leisure Centre
features an Olympic-sized swimming pool,
gym, squash court, athletics track and
fitness classes, while Atria Watford is home
to more than 140 shops, restaurants and
leisure attractions, including Cineworld,
Puttshack, Rock Up indoor climbing and
Hollywood Bowl.
Commuters will find that Parkside is in a
very convenient location. Garston station is
an 11-minute walk away, with rail services
to Oxford Circus in 23 minutes and London
Euston in 29 minutes. Alternatively, Watford
underground station has Metropolitan Line
services to King’s Cross in 49 minutes. Local
buses run from St Albans Road to Luton,
Harlow, Stevenage, Heathrow airport and St
Albans among other routes.
Garston is a fabulous location for
families, with a good selection of local
schools – the two nearest primaries, both
a short walk away, are Coates Way School
and St Catherine of Siena Catholic Primary
School, both rated as Good by Ofsted. And

there’s plenty of space for the kids to burn
off steam afterwards as Watford, with a
grand total of 17 parks and open areas, is
famous for the quality of its green spaces,
with more Green Flag awards than any
other district in Hertfordshire. As well
as the adjacent Garston Park, Leavesden
Country Park is also within easy walking
distance and features a heritage trail,
beautiful specimen trees, the brand new
Woodlands Café, an exciting play area, cycle
hub, inclusive sensory garden and new
outdoor sports facilities.
Shared ownership apartments at
Parkside in Garston start from £124,000
for a 40% share on a full market value of
£310,000. T&Cs apply.
Thrive owns and manages more than 5,500
homes throughout Hertfordshire, Bedfordshire
Buckinghamshire and Oxfordshire. For more
information visit parksidewatford.co.uk

AFFORDABLE HOMES

LIVE LIFE TO ITS FULL
POTENTIAL WITH SHARED
OWNERSHIP IN EDGWARE
A thriving, multicultural and well-connected north London community, Edgware includes
everything from a wide selection of restaurants and shops to picturesque green spaces. For a
bit of retail therapy, The Broadwalk Centre is a hotspot for everything from fashion to home
essentials and hosts a range of popular high-street chains. Feast your way around the world as
you explore Edgware’s tantalising eateries from Turkish treats at Izgara to comforting Italian
classics at Di Loro
When it’s time to step away from the
excitement of city living, Edgware is filled
with beautiful green spaces. With 45 acres
to explore, the Green Flag Award-winning
Canons Park is complete with a children’s
play area, green gym and ponds for local
wildlife. Edgwarebury Park, Lyndhurst
Park and Stonegrove Park are also close by,
ensuring variety for morning strolls.
Whether commuting into the office or
looking to enjoy a leisurely day exploring
the capital, Edgware’s residents can enjoy
easy travel around the city on the Northern
Line from both Edgware and Burnt Oak
underground stations. For more ways to
get out and about, bus services provide
easy links to destinations such as Harrow,
Wembley and Brent Cross.
With a new wave of regeneration now
taking place across the borough, Edgware
promises to be an exciting destination for
London’s aspiring homebuyers. For those
looking to call Edgware home, Sovereign
Network Group’s latest collections of
shared ownerships homes at Edgware
Parade and ICON at Burnt Oak provide two
inspiring opportunities.

ICONIC LONDON LIVING
Positioned on Burnt Oak’s thriving high
street, ICON is making a statement! A
new landmark building, ICON has been
Show home at ICON

Show home at Edgware Parade

designed to provide the very
best in luxurious urban
living. Every detail has been
carefully considered from the
brushed-steel-finish integrated
appliances in the kitchen to
the calming downlighting in the
bedrooms. Spacious open-plan living
areas are perfect for modern living, with
the flexibility to entertain guests, create a
work-at-home space or enjoy a quiet night
on the sofa with your favourite movie.
In addition to the sleek interiors, ICON
has been created as an urban sanctuary
with outdoor space a key focus in the
design process. Providing an area for
the residents to unwind and socialise, a
communal landscaped garden is located at
the heart of the development. Each home
also benefits from a private balcony, perfect
for a morning coffee.

PRIME POSITION
Set in a prominent location on Edgware’s
Station Road, Edgware Parade is ideally

64 First Time Buyer April/May 2024

placed for those
looking to make
the most of the
town’s assorted
restaurants, cafes,
shops and leisure
facilities. Comprising
a collection of one and
two bedroom apartments and
three bedroom duplexes, Edgware Parade
is set across four distinct blocks. Ranging
from four to 16 storeys high, this new
development offers residents impressive
views across London.
Green space is at the core of the
community here, with children’s play
space and a landscaped podium garden
for socialising with neighbours. Further
enhancing the local amenities, Edgware
Parade will also feature new office and
retail space, while secure cycle storage
will complement the exceptional public
transport links.
Explore shared ownership in Edgware at
networkhomessales.co.uk/find-your-new-home

AFFORDABLE HOMES

LOVE WHERE YOU LIVE: THE
IMPORTANCE OF LOCATION
FOR HOUSE HUNTERS
When it comes to buying a new home, many of us start with asking where? Do we want the
hustle and bustle of a city centre or is the slower pace of rural life calling? Is being close to
green spaces important or are local amenities at the top of the wish list? Read on to find out
three features every prospective buyer should consider when choosing where to call home

Wapping Wharf

For those who commute by car, checking
for congestion-free access to motorways
should be a priority. When it comes to public
transport, pay attention to:
9 Frequency of service
9 Coverage area
9 Connectivity to key destinations, such as:
9 Town and city centres
9 Employment hubs
9 Leisure facilities.

LOCAL AMENITIES
AND LIFESTYLE
For most buyers, having good-quality
amenities nearby is high on the agenda.
Factors such as the quality of schools,
healthcare services, and green spaces can
contribute to the long-term desirability and
value of your home, while the variety of retail
and leisure facilities in the area can help you
decide if it complements your lifestyle.
Looking through the new build
developments available on housebuilders’
websites can be a great place to start your
search, as housebuilders spend a significant
amount of time finding up-and-coming
areas to build their homes.
Take our Wapping Wharf development
for example. Launching later this year and
situated on Bristol’s historic harbourside,
this newly transformed neighbourhood of
43 one and two bedroom shared ownership
apartments has a vibrant community hub
on its doorstep. Home to an eclectic mix of
independent small businesses, residents
will be perfectly placed to enjoy some of the
best bars, restaurants, cafes, and shopping
the area has to offer.

Knights Quarter

Nobel Park

Lastly, if you enjoy an active lifestyle, it’s
worth checking the network of walking and
cycling paths available.
Located in the stunning Oxfordshire
countryside, our Nobel Park development
in Didcot is a contemporary collection of
two and three bedroom homes including
houses, apartments and coach houses. For
commuters, the A34 passes just outside
of the town, offering easy access to both
the M4 and M40. Didcot Parkway railway
station is also well connected, providing
regular services to Reading in 20 minutes
and London Paddington in 40 minutes, as
well as direct services to Bristol Temple
Meads*. Prices for two bedroom houses
start from £136,000 for a 40% share.

focus on areas where property prices match
your financial capabilities.
Speaking of property prices, the housing
market looks set to recover throughout
2024, with Nationwide’s house price index
showing property prices rising again since
the turn of the year¹. Coupled with high,
albeit falling, mortgage rates and the costof-living crisis, it’s no surprise many of us
are feeling the pinch.
For those finding it difficult to make their
dream move, affordable homeownership
schemes such as shared ownership provide
much needed support. Buyers at Knights
Quarter, SNG’s development in Winchester
only need to put down a £3,438 deposit for a
one bedroom apartment**, compared to an
astounding £33,000 (10%) deposit required
for the average apartment in Winchester
according to Rightmove².
Unlock your homebuying potential with shared
ownership from SNG. To discover our full
range of homes across the South and West visit
sovereignliving.org.uk

TRAVEL LINKS AND
PUBLIC TRANSPORT

AFFORDABILITY

approximate only.

Whether you’re looking to cut your
commute time or escape a busy city centre,
having access to reliable and convenient
transport options is essential when looking
for a new home.

Another crucial consideration is
affordability, as it directly impacts your
ability to purchase a home in your desired
location. Assessing your finances and
establishing a realistic budget can help you

market value of £275,000. T&Cs apply. Prices correct at

66 First Time Buyer April/May 2024

*Travel times are taken from google.co.uk/maps and are
**5% deposit of a 25% share valued at £68,750, full
time of going to print.
1nationwidehousepriceindex.co.uk/reports/house-pricesbegin-2024-on-a-more-upbeat-note
2rightmove.co.uk/house-prices/winchester.html

REAL LIFE

Open Market: Slough

FA C T F I L E

Property: One bedroom apartment – £289,000
Deposit: £40,000
Monthly mortgage: £1,400 per month
Service charge: Around £120 per month

James Frater has been stuck in the
rental cycle for more than two decades.
During this time, he has rented
various properties in and around
west London, including Putney, St
Margarets, Richmond and most recently
Twickenham, while trying to save for a
deposit towards buying his first home

eliberating when would finally be
the right time to bite the bullet,
earlier this year his landlord unexpectedly
raised his rent by a staggering 40%. This
substantial increase proved to be the
catalyst he needed to initiate his search for
a property to buy. He said, “I was paying
£750 a month for a double room in a shared
three bedroom apartment. Then in February
the managing agent informed us that the
landlord wanted to put the rent up to £1,050
for my room. I’ve been thinking about
moving out of London and as this was a 40%
hike in rent, I decided it was time to buy. I
understand that landlords have faced rising
costs, but 40% is an awful lot.”
Although he had some flexibility in
terms of location, his ideal purchase
would be within an hour’s commute of his
workplace in Moorgate, where he is part of
the broadcast events team for a large film
and television company. However, his job
requires him to frequently travel for work
abroad, so great transport links and close
proximity to Heathrow were also key.
To commence the research process,
James turned to Google Maps. He identified
a range of commutable areas extending as
far as Reading to the west. Beginning with
properties in Reading, he gradually worked
his way back along the M4, exploring
various towns until he reached Slough.
It was at this juncture that his search
presented him with the Berkeley
development Horlicks Quarter, where he
found a number of apartments that were
within his budget.
Having considered a few older-style
properties needing renovation, James was
thrilled to discover what his budget would

70 First Time Buyer April/May 2024

buy in this vibrant new community being
created on the site of the former and iconic
Horlicks Factory.
The Horlicks Factory has been the town’s
most recognised and loved landmark for
over a century. Today, this iconic building
has been meticulously refurbished to
create contemporary apartments taking
inspiration from its industrial heritage. He
explains, “I was astonished... I genuinely
hadn’t expected to find something in the
Horlicks Factory within my price range. I
was first struck by the high-end kitchen and
bathrooms being installed and the quality of
the finish planned for each of the properties.
“But it was everything else that the
Horlicks Quarter development offered that
really appealed! The amenities available
to residents are truly remarkable. My front
door will open on to a floating walkway
over the internal atrium gardens, with a
glass elevator going up to an amazing roof
terrace. I will also have access to a concierge,
residents’ lounge, games room, cinema room
as well as a gym and secure cycle storage.

The real highlight for me though is the coworking space that will be a couple of floors
up from my new apartment.
“Like many people, since the pandemic
I’ve had the option to work remotely. While I
am really looking forward to working in my
new living room/dining room, it will be great
to have access to a purpose-built, shared
workspace being created in the original
clocktower. I’ll be able to nip upstairs where
I can have a change of scenery and interact
with my new neighbours. The location is
also perfect in terms of commuting into
the office as the transport connections in
Slough are great. The station is less than 10
minutes’ walk away, with trains into central
London taking just 15 minutes, the Elizabeth
Line taking me all the way to the city and
Heathrow is only a short drive away.
He added, “I bought a one bedroom
apartment for £289,000 and put down a
£40,000 deposit. My mortgage will work
out at £1,400 a month and my bills will
be around £220. So while it is an overall
increase, I am not paying someone else’s
mortgage and I am happy to reduce
the amount I save each month, as I was
primarily saving to buy.”
One two and three bedroom apartments
are available from £279,950.
For further information please visit:
horlicksquarter.co.uk

"I WAS PAYING £750 A MONTH FOR A
DOUBLE ROOM IN A SHARED THREE
BEDROOM APARTMENT. THEN IN
FEBRUARY THE MANAGING AGENT
INFORMED US THAT THE LANDLORD
WANTED TO PUT THE RENT UP TO
£1,050 FOR MY ROOM"

FOR SALE

FOR SALE
THE CREAM OF THE CROP
Each month, FTB scours the market for the best starter homes for first
time buyers. So, whether you’re searching for your first home at a
perfect price or an ideal commuter pad, we hope you will enjoy
our selection

REAL LIFE

Open market p70
HIGH WYCOMBE, BUCKINGHAMSHIRE

HOIC
FIRST C

T
THE PERFEC

BL★E★N★D

Affordable homes p72-73

ESHER, SURREY

HOIC
FIRST C

GREENENE

AND★S★ER★

Commuter's dream p74-75

First Time Buyer April/May 2024

FOR SALE

AFFORDABLE HOMES
HIGH WYCOMBE, BUCKINGHAMSHIRE

HOIC
FIRST C

FROM
£87,500*

T
THE PERFDEC
BLEN
★★★

Old Works
This new collection of homes incorporates
the Victorian warehouse that sits at the
centre of the site, and blends industrial
and modern architecture perfectly. The
studio, one and two bedroom apartments
lie close to the centre of High Wycombe,
which is ideally located for enjoying
laid-back life within easy reach of the
capital. Trains into London Marylebone
take around 30 minutes, while the
beautiful Chiltern Hills sit in sight, easily
accessible by car. The apartments feature
contemporary styling with open-plan living
areas and private outdoor spaces. The
comprehensive town centre is great for
shopping and dining out, while Oxford,
Reading and London are all easily
reached by rail or road.
Home Reach 020 3744 0415
homereach.org.uk
Based on a 50% share of the full market value of £175,000

72 First Time Buyer April/May 2024

FOR SALE
WEST NORWOOD, SOUTH LONDON

FROM
£128,750*
GRIMSBY, LINCOLNSHIRE

FROM
£73,500*

The Marziale
This well-connected development
is located in one of south London’s
property hotspots, favoured by
young professionals and families
looking to be close to areas such
as Brixton, Crystal Palace and
Croydon. As well as an established
community, West Norwood has
a selection of cool new cafes and
bars. There are just a few one, two

and three bedroom apartments
here, with private balconies, fresh,
spacious living areas and great
access to the huge range of local
amenities, as well as choice of
three railway stations for 20-minute
journeys into central London.
Home Reach 020 3744 0415
homereach.org.uk

*Based on a 25% share of the full market value of £515,000

SOUTHVILLE, BRISTOL

FROM
£TBC*

Bishops Grange
Located just outside the picturesque
village of Lacey, this new collection
of two and three bedroom homes
is proving popular with families
looking for more space in a
well-connected area. The homes
overlook the beautiful Lincolnshire
Wolds countryside, while the
bustling town of Grimsby, along
with a stretch of Humberside

The historic Ashton Brewery site in
Southville is home to this impressive
new collection of properties south
of Bristol’s city centre. The 107
one, two and three bedroom
homes are set within landscaped
gardens and will be accompanied
by on-site facilities, including
shops. The homes are bright and
spacious, with high-quality fixtures

Platform Home Ownership
0333 200 7304
platformhomeownership

*Based on a 35% share of the full market value of £210,000

BLACKBURN, LANCASHIRE

Old Brewery

towns, lies a short drive away. The
properties have been created with
modern living in mind, with wellsized living areas, extra storage
spaces, kitchens that open to back
gardens and off-street parking.

FROM
£267,000

Sunnybower Meadow
and fittings. This is an excellent
spot for enjoying the best of Bristol:
Harbourside, the Old Vic and
Castle Park are a 10-minute cycle
ride, while Southville was recently
named as the second best place to
live in the South West.
Abri Homes 0800 145 6633
abrihomes.co.uk
*Shared ownership available

The 132 new family homes at
Sunnybower Meadow are located
just two miles from Blackburn’s
city centre. The houses range from
two to five bedrooms and include
detached and semi-detached
options – perfect for growing
families. The larger homes will
feature separate living and dining
spaces with downstairs WC, while
all residents will enjoy well-sized

gardens and parking. The beautiful
rural location enjoys easy access
to the stunning Forest of Borland
– an area of outstanding natural
beauty. Meanwhile, Blackburn
is a 10-minute drive away, with
Manchester reached in around 50
minutes by car.
Bovis Homes 01254 375 487
bovishomes.co.uk

First Time Buyer April/May 2024

FOR SALE

COMMUTER’S DREAM
FROM
£360,000

ESHER, SURREY

HOIC
FIRST C

GREENENE

AND SER★
★★

Luna Place
Convenience is key at this new
collection of homes in sought-after
Esher. The new one and two bedroom
homes lie just moments from the
high street and village – which has
a distinctly green and country feel to
it – and includes a theatre, supermarket
and country pub. The apartments
have been created with a period
feel architecturally, with stunning
contemporary interiors. The beautiful
Surrey Hills can be easily explored,
offering plenty by way of scenic walks
and pretty villages. From the nearby
station, trains reach London Waterloo in
just 23 minutes, while popular Kingston
upon Thames and Heathrow airport are
also an easy drive or train ride.
Chancery Homes 020 8481 7588
chanceryhomes.co.uk

74 First Time Buyer April/May 2024

FOR SALE
H AT F I E L D , H E R T F O R D S H I R E

FROM
£240,00
RAINWORTH, NOTTINGHAMSHIRE

FROM
£274,995

Vista
With the beauty of Hertfordshire
on the doorstep and rail travel
to Finsbury Park in 18 minutes,
it’s easy to see why Hatfield is a
top choice for commuters. The
town offers an excellent range of
primary and secondary schools,
entertainment facilities, restaurants
and historic sites. The one and two
bedroom properties here sit at the

C L AV E R I N G , E S S E X

heart of the town centre, and enjoy
a pretty courtyard and private
balconies – and are very energy
efficiency. As well as speedy
transport into the capital, there are
also excellent links to Cambridge
and St Albans from the area.
Lovell 01707 524 121
lovell.co.uk

Elm Tree Park
This pretty new collection of homes
enjoys a great spot, nestled in
the heart of the Nottinghamshire
countryside, with easy commuter
links to Mansfield and Nottingham.
Nearby Rainworth, a two-minute
drive, offers a good range of
facilities, while the rolling hills,
country parks and forests provide
ample opportunity to explore.

FROM
£135,000*
B E A M PA R K , R A I N H A M

The houses range from two to
five bedrooms and are ideal for
modern living. The three bedroom
homes feature a downstairs study,
storage cupboards, and an en suite
from the main bedroom.
David Wilson Homes
0330 057 2222
dwh.co.uk

FROM
£63,125*

Vassar’s Field
Escape to the country at this
boutique development of just
31 family homes in Clavering,
Essex. The properties are just a
10-minute drive from popular
Saffron Walden, a delightful
market town with excellent
links to both Cambridge and
London. Residents can enjoy the
abundance of green spaces and

beautiful countryside right on
the doorstep (including a local
castle), while a country pub, local
supermarket and other facilities
lie within walking distance – with
commuter rail links from nearby
Newport, a short drive away.
St Arthur Homes 020 3859 7403
starthurhomes.com
*Based on a 30% share of £450,000

L&Q Beam Park
Beam Park forms part of a brand
new neighbourhood in the
recently regenerated suburb of
Rainham, designed with community
in mind. Amenities including
schools, medical, faith and leisure
facilities as well as purpose-built
open spaces, all geared towards
encouraging interaction between
residents. London’s Fenchurch Street

can be reached in just 21 minutes
from nearby Dagenham Dock
station. The one and two bedroom
apartments feature spacious living/
dining areas that lead to private
balconies or terraces with views
over the landscaped gardens.
L&Q 020 8189 7502
lqhomes.com

*Based on a 25% share of the full market value of £252,500

First Time Buyer April/May 2024

COMPETITION

Full terms and conditions can be found at firsttimebuyermag.com
First Time Buyer April/May 2024

TRIED AND TESTED

THE BUNNY IS BACK!
Hop little bunnies, hop, hop, hop! If, like us, you weren’t
upset to see Easter begin in stores before the end of
Christmas, then you will love what we have for you...

M&S
arksologist
M
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Coffee & Car
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A salted cara
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WAI TR O SE
Sam on Toast, £5
This delightful
Easter treat will pu
t
a smile on anyone
’s
face! With a cream
y
butterscotch flavou
r.

78 First Time Buyer April/May 2024
24

M O RR IS O N S
The Best 70% Dark
Chocolate Egg with
Pink
Himalayan Salt, £5
For those with mo
re mature
tastes in chocolate!
This
70% cocoa chocola
te egg
is seasoned with
pink
Himalayan salt for
a
mouthwatering flav
our.

M&S
Flossy the Highland
Cow, £6
An udderly
scrumptious egg
with white and mi
lk
chocolate.

TRIED AND TESTED

R Y 'S
S A IN S B U
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CO -O P
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Fairtrade Salted Tof
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Crunch Egg, £4.50
Ahoy there! This mi
lkfree vegan Easter
egg is
bursting with toffee
flavour
pieces and finishe
d with
a dash of Anglesey
sea salt.

M& S
Colin the Caterpillar
Wiggle Hunt/Percy Pig
Snuffle Hunt, £7
Who doesn’t love a bum
bag?! Perfect for the egg
hunt once you have eaten
the milk chocolate and
sweets inside the cute,
soft pouch!

R Y 'S
S A IN S B U
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Crunch Egg,
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provide
and savoury
flavour.

First Time Buyer April/May 2024

FIRST MEAL

FIRST HOME,
FIRST MEAL
Here is a delicious traybake created by Theo Michaels, chef, presenter and award-winning
author. Theo says, "It's the perfect first time meal – whack it in the oven, all raw, put your
feet up on some unpacked boxes and enjoy your first meal in your first home! I created a
version of this recipe during March 2020 when me and the kids started hosting our live
‘cook-alongs’ during lockdown. It’s become a firm favourite for families around the world;
I hope you enjoy it as much as we do! What makes it special is everything is cooked in the
oven from scratch (including the spaghetti from raw!)"

ALL-IN-ONE SPAGHETTI
& MEATBALL TRAYBAKE

INGREDIENTS (Serves 4)

METHOD
1

9
9
9
9
9
9
9
9
9
9
9
9

320g spaghetti
1 onion, diced
3 cloves garlic, sliced
60ml olive oil
1x 400g canned cherry
tomatoes
650ml hot chicken stock (1
bouillon cube)
1 tbsp tomato puree
Pinch chilli flakes
Few sprigs flat leaf parsley,
chopped
400g beef mince
1 tbsp dried oregano
1 tsp smoked paprika

2
3

Select a high-sided roasting tin
– just big enough for a snug fit
for the pasta. (I use an 8x12inch
Pyrex dish that's just big enough
to fit the spaghetti in).
Pre-heat the oven to 200°C (fan)
or gas mark 7/425°F/220°C.
Break up the mincemeat and
season with a pinch of salt,
pepper, dried oregano, a few
pinches of chopped parsley and
the smoked paprika. Roll the
mixture into a dozen balls of
equal size and reserve.
Put the spaghetti into the highsided baking tray with all the
remaining ingredients (make
sure the chicken stock is hot)
and use a fork to incorporate
all the ingredients together. The
spaghetti should be submerged
about 1cm below the liquid.
Dot the meatballs on top and
place into pre-heated oven for
30 minutes, then rest for five
minutes out of the oven (don’t
skip this bit as it finishes the
cooking). Garnish with chopped
fresh parsley, lift the spaghetti
with tongs to incorporate it all
together and serve.
Note – if it’s too thick add a
splash of hot water, or if it's too
loose place it back in the oven
for five minutes.

Theo’s Family
Kitchen by
Theo Michaels,
published by
Ryland Peters &
Small (£20).
Photography
by Mowie Kay
© Ryland Peters
& Small

First Time Buyer April/May 2024

LEGAL

Jargon Busting
Our last article on the most common terms used by professionals
involved in the homebuying and selling process was hugely popular, so
we’ve added some more of the most frequently used terms to ensure you
don’t feel left out in the cold when buying or selling your home. Stephen
Ward, Director for Strategy and External Relations at the Council for
Licensed Conveyancers, explains
WHAT ARE YOU BUYING?

Ireland. The standard current threshold is
£250,000 for residential properties but if
all purchasers are first time buyers then
the threshold becomes £425,000 on homes
worth £625,000 or less. The rate of Stamp
Duty is paid at different levels depending
on the agreed sale price of the property.
There is a different tax in Scotland (Land
and Buildings Transaction Tax) and Wales
(Land Transaction Tax).

Boundaries: The physical limits of your
property, often defined by hedges, fences
and walls. The exact boundary between
properties is not laid down anywhere, but
there are various presumptions in law as
to where it is and who is responsible for
it should a dispute between neighbours
arise. For example, the cost of putting
up or repairing fences should normally
be shared between both sides, but if it is
supported by upright posts on one side,
there is a presumption that it belongs to
the owner on that side.
Conservation area: This is an area of
special architectural or historic interest
where the local authority imposes extra
planning controls to ensure that the look
and character is preserved. So, for example,
you may need planning consent to change
the windows. There are over 10,000
conservation areas in England.
Contaminated land: This is land that
has been contaminated by hazardous
material from its past use as, for example,
a factory or petrol station. This will show
up on the environmental search that your
conveyancer will carry out on the property.
The question then is the extent to which
the contamination has been dealt with,
something your conveyancer will advise
you on as well as steps on how to proceed.
Defect in title: A problem with the legal
ownership of the property which means a
third party may have some kind of claim on
it and complicates its sale. You can insure
against this risk.
Easement: A right that one person has
over another person’s piece of land, such
as a right of way. A right of way is a legal
right to use a particular route to pass
across that land.
Encumbrance: This means there is
a burden on a property – such as an
easement – that does not stop it being sold
but may reduce its value.

82 First Time Buyer April/May 2024

Priority searches: These are searches
carried out shortly before completion to
ensure that nothing has changed since the
initial searches were done.

EVERYTHING ELSE!

Private road: Most roads are maintained
by local authorities and everyone can use
them. Private roads (also called unadopted
roads) are maintained by the property
owners along that road at their expense,
through a management company or a
residents’ association, giving them control
over what happens with the road. Public
access can be limited too.
Vacant possession: This means that the
buyer is buying an empty property with
no other people having any right to stay
there, or any possessions left behind that
could interfere with the new owner’s use
of the property.

WHAT DO YOU NEED?
Building insurance: Once contracts have
been exchanged, meaning both sides have
made a legal commitment to the deal, the
buyer needs to take out insurance cover
for the property. Your mortgage lender will
most likely want to see proof of this.
Stamp Duty: You must pay Stamp Duty
Land Tax if you buy a property or land over
a certain price in England and Northern

CHAPS transfer: On the day of
completion, the outstanding money to buy
the property is transferred electronically
between the bank accounts of the buyer’s
conveyancer and the seller’s conveyancer.
The system used by the banks is called
CHAPS: Clearing Houses Automated
Payment System and there is usually a fee
that is charged to use this service.
Planning control: Planning control is the
process of managing the development
of land and buildings. The purpose of
this process is to save what is best of our
heritage and improve the infrastructure
upon which we depend. Your local
planning authority is responsible for
deciding whether a development, anything
from an extension on a house to a new
shopping centre, should go ahead. The
Government has a plain English guide
giving an overview of how the planning
system works in England.
Remember! The important thing in any
property transaction is to make sure you
understand what you are signing for or
being told. If you don’t understand, be sure
to ask your conveyancer to explain it for
you, it is their job to help you through the
purchase of your property.
For more information, please visit:
clc-uk.org/consumers

LEGAL

Why use a specialist
solicitor when buying an
affordable housing product?
Walk down any high street and you will find a firm of solicitors offering conveyancing
services. However, the vast majority of these will have little or no experience of affordable
housing schemes, explains Andrew Theoff, Director, Shared Direction Conveyancing
Although it has been around for many
years, it is only in more recent years
that shared ownership has become
more prevalent. Likewise, in recent years,
various equity loan and discount purchase
price schemes have been introduced.
However, affordable housing is still only
a comparatively small proportion of the
overall housing sector, and most solicitors
still see affordable housing conveyancing as
more complex than “ordinary” conveyancing.
Indeed, those solicitors aren’t wrong,
affordable housing conveyancing can be
more complicated for a number of reasons:
9 Shared ownership leases contain many
provisions that you will not find in
other leases
9 Mortgages must be approved by the
housing association the property is
being purchased through, and lenders
have more detailed requirements
9 The legal paperwork for new build
properties is extensive. However, it
tends to be similar for all plots, so it is
more efficient for a solicitor to act for
multiple buyers on a development.
There are some mortgage lenders who only
have a limited number of conveyancing
firms on their panel that they trust to act
for them on shared ownership cases. A
buyer who instructs a firm of solicitors that
doesn’t specialise in affordable housing
may therefore end up paying two sets of
legal fees – their own solicitor’s fees for the
conveyancing and their lender’s legal fees
too. Housing associations, and the mortgage
brokers they work with, will also often have
panels of solicitors that they recommend
who specialise in affordable housing.
Buyers can be distrustful of using a firm
of solicitors that has been recommended,
fearing that they won’t be sufficiently
independent. Although this is a natural
concern, and people may often wish to use a
more local firm, buyers should understand
that their solicitor is duty-bound to act in

84 First Time Buyer April/May 2024

their best interests and is acting for them
not the seller. Buyers should also keep in
mind that as not all regular high street
solicitors are familiar with affordable
housing products, that they will probably
charge more for the conveyancing and
generally take longer when dealing with
such cases.
Therefore, in conclusion, using a firm
which specialises in affordable housing
or one which is on a “panel” as explained
above, means that you will be looked after
by an expert who will most likely charge
less and generally proceed quicker than if
you used a conventional high street solicitor;

in keeping with the housing association or
developer’s purchase timelines.
Shared Direction Conveyancing is a niche
firm with more than 25 years’ experience
solely offering conveyancing for new build
shared ownership purchases. Demerged
from Direction Law (which was one of
the largest specialist affordable housing
solicitors in the country), we are a friendly,
professional firm with over 50 members
of staff who aim to communicate with our
clients, clearly and concisely.
For further information visit sdc-legal.co.uk or for
an instant quotation call 0808 273 0273

FINANCE

Prepare for
a marathon

EXPERT COMMENT

For some borrowers, particularly first
time buyers, securing a mortgage
with a 35+ year term could be the
only way to afford a property due
to the lower monthly repayments.
However, it is important that the
risks of such long mortgage terms
are properly understood. One of
the largest knock-on effects is that
the longer the mortgage term, the
older you will be when making the
final repayment. This means that
people are likely to be borrowing
beyond their retirement age. Paying
a mortgage in retirement can have

Mortgage terms are getting longer and longer in a bid to
make buying a home more affordable, but short-term gains
have long-term implications, says Kay Hill

a major impact on standard of
living with many people becoming
unable to comfortably afford the
repayments. Additionally, you are
likely to pay considerably more
in interest over the course of your
mortgage term. Certain mortgages

The standard mortgage term used to be
25 years, but today’s first time buyers are
increasingly being offered terms of 30, 35
and even 40 years from high street lenders.
When UK Finance first started collecting
statistics in 2005, just 2% of first time buyers
took a loan of 35 years or more. In 2023 that
figure stood at 19%. With the average first
time buyer getting the keys to their new
home at around the age of 34, that means
huge numbers of today’s buyers face paying
their mortgage well past retirement age.
The reason that terms are getting
longer is simple – the monthly payments
are significantly reduced, increasing
affordability. For example, for a first time
buyer purchasing a £280,000 home with
a 10% deposit, the monthly payments on
a market-leading 4.4% mortgage for the
remaining £252,000 would cost £1,386 a

86 First Time Buyer April/May 2024

month over 25 years, but £1,117 a month
spread over 40 years; saving £3,228 a year.
So far, so good.
The sting, however, is in the tail – the
amount paid over the term for borrowing
that £252,000 (assuming interest rates stay
the same) would be £415,930 over 25 years
but £536,040 for the same amount borrowed
over 40 years, with the interest of £284,040
exceeding the original price of the home.
There’s a handy calculator at landc.co.uk/
calculators/how-much-will-my-mortgagecost to help you work out your own
individual figures.
Statistics from the Financial Conduct
Authority show that the number of 40-year
mortgage sales (the longest term currently
available in the UK) has increased by 29%
from 2021/22 to 2022/23. Charles Incledon,
Director at Bowmore Asset Management,

allow you to make overpayments
which will reduce the amount of
interest paid over the term length.
Seeing a mortgage adviser is very
important if you are looking to
commit to a 35+ year term, as they
can ensure a mortgage product
has the flexibility to overpay without
being penalised. Having this ability
will allow you to pay more off your
mortgage if you are in a position
to do so and will ultimately reduce
your term.
Charlotte Nixon,
Mortgage Expert,
Quilter

FINANCE

says, “The number of people opting for
longer term mortgages has caused concern
at the Financial Conduct Authority. The
worry is that some borrowers haven’t fully
understood the potential impact 30- to
40-year mortgages could have on their
long-term finances. Not only will borrowers
be paying much more in the long term, but
they are also taking funds away from
their retirements.”
So, given the obvious drawback,
are these marathon mortgages worth
considering? If you are able to manage
a standard term mortgage on a home
suitable for your needs then there’s no
reason to consider it – although it could
be useful down the line if your financial
circumstances deteriorated or interest rates
rose to a level where you were struggling.
In these circumstances most lenders would
consider extending the term to make your
repayments easier. If you are successfully
saving and nearing your goal, while house
prices are relatively stable it might be
more sensible to keep saving for a few
months more. However, if you are paying
extortionate private rental costs that make
it hard to save, then a longer-term mortgage
might bring your own home within reach,
without costing you much more a month.

WHAT IS AVAILABLE?
The monthly interest rates on these longer
terms are generally no higher than for a
standard length, and 90% LTV mortgages
are widely available. At the time of writing,
some of the best rates for 90% LTV fiveyear fixes over 40 years were from Halifax
(4.64%) Virgin Money (4.65%) and The
Cumberland (4.67%). Most of the top deals
have high fees (up to £1,595) but Halifax
also offers a five-year fix with just a £100
fee at 4.75%. For those who want to borrow
as much as they can, Perenna offers 40-year
loans of up to six times income, with the
interest rate fixed for the whole term – 90%
LTV 5.99% with a fee or 6.13% without a fee.
A smaller number of lenders offer 95%
LTV over 40 years, starting from 4.79%
with The Family Building Society, while for
those who have parents who can help out,
there are several 100% mortgages available
over 40 years, with Mansfield Building
Society topping the table at 5.89% and

Buckinghamshire Building Society at
6.29% for three-year discounted family
assist mortgages.

REDUCING THE TERM
While a 40-year term may help you
get a foot on the ladder, and many
mainstream lenders will allow you to
take out a mortgage that you will still be
repaying when you’re 75 or even older,
it makes sense to see it as a temporary
measure. Paying a mortgage into your 70s
would mean either working well beyond
retirement age (which may not be possible)
or paying enough into a pension to fund it
(probably not affordable).
One of the best things you can do to
reduce your mortgage term is to choose
a mortgage with flexibility and overpay
when you can. For example, Virgin Money’s
online overpayment tool shows that if
you paid a modest £100 extra a month, its
40-year mortgage would become a 33-year
mortgage, with borrowers allowed to repay
up to 10% of the outstanding balance each
year without any charges. You could also
consider putting money aside, so that in
time you can remortgage for a shorter term.

EXPERT COMMENT

Longer mortgage terms provide
borrowers with a means to mitigate
the impact of rising interest rates,
offering them greater financial
stability and affordability over time
and reduced monthly expenses. In
addition, homeownership is made
more accessible for FTBs who may
have lower incomes. Thus, a 40year mortgage can be a practical
way to enter homeownership
without overextending their finances.
However, a longer mortgage term
entails higher overall costs, as
borrowers accrue interest on the
loan for an extended duration. This
can result in substantially higher
interest expenses compared to
shorter-term mortgages. In addition,
the rate at which homeowners
build equity in their property will be
slower, making it less attractive for
those who aim to build equity and
wealth through property ownership.

EVEN LONGER?

Extending a mortgage into retirement

Now that 40-year mortgages are becoming
mainstream, will terms extend yet further?
Just before he left office in 2022, Boris
Johnson was exploring the idea of allowing
50-year mortgages that could pass between
generations, similar to the Japanese
100-year mortgages that became popular
in the 1980s before Japan’s overheated
housing market collapsed. In Sweden,
50-year terms are commonplace, although
householders can take loans of up to 105
years (reduced from 140 years in 2016).
In fact, The Guinness World Record for
the longest mortgage ever taken goes to
a Swedish couple who, in 2012, signed a
mortgage agreement that would last 145
years. A spokesperson for Perenna told First
Time Buyer, “We’ve found that 40 years is
more than enough for people to secure the
loan size they need to secure a house in the
current market. If, however, a need arises
for a 50-year product, consumers can rest
assured that we will consider providing this.”

financial future. The longer the

can also significantly impact one’s
mortgage commitment extends into
retirement, the greater the potential
risk to financial stability in later
years. Whether a 40-year mortgage
term is good for you depends on
your specific financial circumstances,
goals, and preferences. Use an
online mortgage calculator to help
you evaluate the trade-offs between
lower monthly payments and higher
overall interest costs and, more
importantly, get in touch with a
mortgage adviser.
Nicola Schutrups,
Managing
Director, The
Mortgage Hut

First Time Buyer April/May 2024

MARKET

What are the extra
costs when buying
your first home
Buying your first home is an achievement but watch out for extra costs, reports
Ginetta Vedrickas

We’re all only too aware of the current
cost-of-living crisis, which makes
affording your first home financially
daunting. A recent survey by Uswitch
mortgages investigated buying trends among
first time buyers to identify exactly how they
managed to afford it. The survey found that
around half, 45%, of first time buyers got help
from Government schemes. Over a third, 34%,
received parental support from the bank of
mum and dad to get on the property ladder,
with around one in 10, 11%, of first time
buyers who didn’t get any help. The survey
also found that most first time buyers weren’t
aware of the additional fees that come with
buying a property, with less than one in 10,
7%, who knew how much admin fees cost on
top of a mortgage.

Homes scheme, 36%, followed by a Lifetime
ISA at 29%. Uswitch mortgage expert Kellie
Steed says that when people think about first
time buyer schemes their mind often jumps
to Help to Buy, but she points out that this
equity loan scheme is no longer available
in England, Northern Ireland or Scotland,
although anyone eligible in Wales can still
apply. “For English homebuyers, one of the
alternatives is the First Homes scheme,
which was the most popular among survey
respondents,” she says. “Offering a 30% to 50%
discount on the market value of a property, it
may help those struggling to make that leap
on to the property ladder due to affordability.
However, there are limitations on the type
of properties you can purchase, and certain
eligibility criteria apply.”

MOST COMMON FIRST TIME
BUYER PURCHASE METHODS

MORTGAGES AND
PARENTAL HELP

With around half, 45%, of first time buyers
purchasing with help from a Government
scheme, the survey looked at which schemes
they used. The most common was the First

The survey found that the second most
common purchase method was buying with
a “traditional” mortgage at 44%, and that
most first time buyers, 38%, who bought a

First Time Buyer April/May 2024

house with a mortgage opted for a standard
variable-rate mortgage, with 32% opting for a
fixed-rate mortgage. Of the 34% of first time
buyers receiving help from parents, 24% got
a loan for the deposit, with 10% of buyers’
parents gifting them money towards their
purchase. In terms of ownership, the survey
also revealed that almost half, 48%, of first
time buyers are the sole property owners,
while 33% bought with a partner.

EXTRA COSTS WHEN BUYING
It’s all too easy for first time buyers to focus
solely upon interest rates when looking at
mortgage deals. But Steed warns that, while
the rate is important in working out how
expensive your monthly repayments will be,
buyers should also consider the fees involved,
as a mortgage deal with an attractive interest
rate can end up being more expensive than
higher rate deals when fees are factored in,
“On average, the arrangement fee alone sets
a first time buyer back around £345. But this
is an average figure, in reality, some first time
buyers may pay nothing while some may

MARKET

face a cost of over £2,000. That’s why it’s so
important for prospective homeowners to be
aware of the fees associated with a mortgage.
It’s a similar situation for legal fees.”

STAMP DUTY COSTS
The survey found that 79% of buyers were
unaware of Stamp Duty costs. When you buy
property or land, you typically pay tax, called
Stamp Duty Land Tax, SDLT, in England
and Northern Ireland, Land and Buildings
Transaction Tax in Scotland and Land
Transaction Tax in Wales. All parts of the
UK now use a “progressive Stamp Duty rate
system” which means that, instead of paying
a single rate on the whole purchase price, you
could end up paying one rate on a portion of
the property and a different rate on another.
Buyers in England and Northern Ireland
pay no Stamp Duty on the first £250,000
of a residential property but the threshold
rises to £425,000 for first time buyers. If a
first time buyer is buying a home priced
up to £625,000 they pay nothing up to
£425,000 and 5% on the remainder. However,
if the house is more than £625,000 they
pay nothing up to £250,000 then 5% up to
£925,000. Rates increase after this.

VALUATION FEES
If you are getting a mortgage, lenders will
want to establish if the property you are
buying is worth what you are paying for it,
so they charge a valuation fee, paid directly
to them. They do this for their own security,
so that they can be sure that – if things go
wrong and you can’t afford to pay your
mortgage and therefore default on payments
– they can repossess the property and sell it
for a decent amount. Sometimes this is also
called a valuation survey, not to be confused
with a regular survey, see below. Cost varies
according to lender and purchase price but is
typically around £300. You must pay this fee
upfront, before you get your mortgage. Not
all lenders charge for this and sometimes
they are included at no extra cost.

purchase price on the strength of what a
survey reveals or to ask the vendor to put
right any defects. A survey should be able
to tell you important things such as if there
is any damp, structural issues or plumbing
problems, plus any other potential snags.
There are different levels of survey and
fees vary depending on the level of detail
requested and the size and value of the
property you are considering buying. The
HomeOwners Alliance hoa.org.uk has
information and detail on what kind of
survey you should commission, as different
house types might need more investigation
than others.
For example, if you are buying a new
build property that comes with a 10-year
building guarantee, you may just decide
upon a snagging valuation, or if you are
buying an old or unusual property you
may prefer to pay for a fuller more detailed
survey. In 2021, the Royal Institution of
Chartered Surveyors, RICS, launched
new formats for home survey reports and
renamed them according to three levels
of survey. The HomeOwners Alliance give
examples of survey cost. For example, if the
property you’re buying is worth £200,000
and you want a RICS Home Survey Level
1 – the most basic type – it could cost around
£400. But, if you’re buying a £1m home and
you’re seeking a RICS Home Survey Level 3,
also known as a full structural survey, you’re
likely to be paying upwards of £1,500.

EXPERT COMMENT

Before becoming a first time buyer
you’ll need to assess whether you’re
financially prepared, and what
support you may need. Mortgages
come with additional admin fees, and
costs like surveying and Land Registry
fees are unavoidable. There are also
outgoings to account for once you’ve
moved into the property, such as
insurance, utilities and council tax.
Factoring these into your budget early
on will ensure you’re prepared and
can afford to buy.
Kellie Steed,
Mortgage Expert
Uswitch

EXPERT COMMENT

Fees can add more than 10% to the
total bill and owning a home also
costs more than you might expect.
Make your savings work for you.
A Lifetime ISA gets you a 25%
Government bonus, but be sure to
read the T&Cs and get financial
advice. If you have space, think
about the rent-a-room scheme, even
short-term or when you are away.
Consider taking out Homebuyers
Insurance. Over a third of property

MORTGAGE BROKER FEES

transactions fall through, this insurance

Some first time buyers use a mortgage broker
for access to a wider range of mortgages.
Some charge a fee while others receive their
commission from a lender. If you do pay, fees
vary widely, from fixed fees, often around
£300, to up to 1% of the loan amount. Some
brokers may reduce your fees if they are
getting a commission from a lender, but it is
sensible to establish what you will pay before
appointing a broker. At moneysavingexpert.
com you will find advice on whether to use a
broker and the potential cost.

mortgage and legal costs if the sale

will reimburse you for your survey,
falls through.
Paula Higgins,
CEO HomeOwners
Alliance

EXPERT COMMENT

London Square actively offers
assistance to first time buyers, often
tailored to individual circumstances.

SURVEY COSTS
Surveys are not mandatory, but buyers
usually arrange for one so that they know
more about the property they intend buying.
They are carried out by surveyors – not
linked to your chosen lender – although it
is possible to ask for a more detailed survey
when arranging for the lender’s valuation.
Surveys assess the condition of any property
that you are buying and can also assess its
current value. It can be useful to know what
is potentially wrong with a property and how
old costly items like roofs and boilers are
and, when you have your survey’s results,
you may decide to try to renegotiate the

CONVEYANCING AND
LEGAL COSTS

It could range from help with legal

Conveyancing, the legal process of buying,
can be carried out by either a conveyancer
or a solicitor. Solicitors are registered with
the Law Society and have a wider breadth
of knowledge, making them able to deal
with any complicated issues that may come
up. Licensed conveyancers are lawyers
specialising in property law who deal mainly
with straightforward matters but typically,
they are cheaper. The Uswitch survey found
that only 40% of first time buyers were aware
of conveyancing fees, which vary widely but
which can cost between £800 and £2,000.

get a 10-year Building Warranty and

fees, providing furniture packs, to
assisting with deposit boost. Buyers
two-year London Square Customer
Care Warranty. Our customer service
team is exemplary, providing support
at every stage of the buying journey
to make the buying and moving in
process seamless and hassle-free.
Jo McDonagh,
MD London
Square North

First Time Buyer April/May 2024

EXPERTS

Agony agent
Readers put their property questions to our guest panel of experts:
solicitors, mortgage advisers, property gurus and shared ownership providers

THIS MONTH’S
PA N E L O F E X P E R T S
Simon Scott,
Assistant Director
of Commercial
& Property
Marketing,
Origin Housing

Becky Munday,
Founder &
Managing
Director,, Munday’s
Estate Agents

What to look for when house hunting?
Phillip WellardHughes, Head
of Sales, NHG
Homes

T E S T T H E PA N E L

We need
your questions...
If you have any queries, or
difficulties in understanding
the property buying process,
our panel of experts is waiting
to help. Send our team your
questions on buying property,
shared ownership, legal issues,
or your financial problems and
we’ll find the best person from
the panel to give the advice
you need.
Email your questions to:
lynda@firsttimebuyermag.co.uk

Q
A

I’m looking for a new place in London, broadly within Zone 3. The task seems so big
and I am keen to get the best value I can. What should I be concentrating on when
looking for my new home?
Zakia Palmer, Crystal Palace

I would say there are a few essential factors you need to consider, starting with how you will
get to work if you need to commute into an office or elsewhere. Finding a place that’s near an
easy route to work will definitely make your life less stressful.
1. Ideally you’ll be near a train or tube station. Bus routes shouldn’t be overlooked but trains/tubes
will get you there fastest. If you are a cyclist, look for comfortable cycle routes.
2. How much space do you need? After a few viewings you will get a good feel for the size of place
you are after. As a general rule, newer places will give you a cheaper price per square foot.
Georgian/Victorian/Edwardian/1920s and 1930s places often carry a premium.
3. Is outside space important to you? Properties with gardens, terraces or shared spaces will be
more expensive than those without. Buying near public outside spaces/commons/nature reserves
can often be a smart move.
4. Ask yourself how important it is to you to be close to a high street/amenities? You will notice that
properties are cheaper the further you are away from these.
5. How much appetite do you have for doing work? Although places that need work are cheaper, it
is important to consider costs for what you will need to do once you have moved in. Many buyers
decide that a turnkey property is the best option for them.
6. Is the property a good investment? This is of course difficult to answer, but a simple way to look
at this is to consider issues around resale: for example, is it on a busy road or near a railway line?
This might make a sale harder in a difficult sale climate. Ex-local authority properties are also
harder to shift in a tough market (though they often offer good square footage and location). Also
be mindful of high service charges and ground rents – ask for a breakdown from the estate agent
or sales advisor and consider if they represent good value for money (it may also be a good idea
to ask your conveyancer this question).
Wishing you all the best in your property hunt!
Becky Munday

90 First Time Buyer April/May 2024

EXPERTS

Is now the right time to buy?

I’ve been thinking about buying a home through
shared ownership in London, but I’m not sure
if now’s the right time? There’s been a lot of
challenges in the housing market recently so I’m weighing up
whether to buy now, or to wait for the market to calm down.
Felicity Blackstock, Sidcup

If you’re feeling overwhelmed by fluctuating house prices
and mortgage rates as a first time buyer in London, you’re
not alone. While there’s been some more optimism in the
first few months of this year thanks to falling inflation and interest
rates leading to lowering mortgage rates, house prices still remain
relatively high and affordability will continue to be an issue.
The good news is that shared ownership offers an accessible
route to homeownership, even in a challenging market. With shared
ownership, buyers purchase a percentage share of the property
and pay a subsidised rent on the remaining share. This means
you can buy a property in London with a much lower deposit than
purchasing outright. So while house prices remain high, shared
ownership deposits are relatively low – much lower than buying
on the open market. If you have the deposit to buy with shared
ownership, 2024 could be a great time. Several providers in the
capital offer homes you can buy with a deposit of less than £5,000.
According to leading affordable homeownership mortgage
adviser Censeo, which NHG Homes works closely with, there’s been
a huge rise in demand for shared ownership mortgages in recent
months, with a greater number of lenders and products available.
We’ve even seen a new lender enter the shared ownership market
with others returning or reviewing their underwriting criteria in

favour of buyers. This means more options, allowing mortgage
brokers like Censeo more choice to support buyers to find the
mortgage that works best for them. As demand for shared ownership
homes and mortgages remains strong, there’s no guarantee of
purchase for buyers who are waiting for prices to fall.
As buyers pay a subsidised rent on the share they don’t own,
monthly costs (including rent, mortgage and service charge) are
often cheaper than renting. For example, at NHG Homes’ Kidbrooke
Square in the Royal Borough of Greenwich, a one bedroom
apartment starts from £92,500 for a 25% share, with a minimum
5% deposit of £4,625 and estimated monthly costs of £1,344. That
compares to average costs of £1,673 when renting a one bedroom
locally. With parkside, cityside and waterside developments, NHG
Homes is helping buyers on to the property ladder in London,
with homes that make putting down roots more affordable and
attainable. For more information, visit nhghomes.com.
Phillip Wellard-Hughes

Can I decorate my shared ownership home?

I’m looking to purchase
shares in my first shared
ownership home, but I’m
interested to know whether I’ll be able
to add personal touches? I’m curious
to find out what the guidelines are for
decorating my home before I start the
shared ownership application process.
Daisy White, Shoreditch

Getting on to the property ladder
is an exciting process for any first
time buyer, and the prospect of
making a home your own plays an integral
part in the moving process. The good news
is that with Origin, as with many shared
ownership properties, you will be able to
add those personal finishing touches that
make a property really feel like home.
Backed by the Government, shared
ownership offers a fantastic pathway for
aspiring homeowners to take their first
step on to the property ladder. The scheme
provides a unique opportunity to acquire
shares in a property – usually between 25%
to 75% initially – while paying rent for the
remaining portion of your home. Typically,
shared owners can secure their new home
with a lower deposit, which can often be as

low as 10% of the share value – from just
£4,469 at our flagship development, Harrow
and Wealdstone Heights.*
And with our latest incentive, buyers
can get an extra helping hand to take
that first step on to the property ladder.
Origin Kickstart offers buyers a chance to
receive incentives worth £2,500 for those
who reserve a new home at Harrow and
Wealdstone Heights.**
Our new build homes are thoughtfully
designed to cater for modern living,
with large, light-filled living spaces, fully
equipped kitchens and spacious zones
for both entertaining and working from
home requirements. The stylish, neutral
specification of all our shared ownership
homes maintains our exceptional standard
of finish, while offering residents the
opportunity to decorate and personalise
their home to their own tastes.
As a shared owner with Origin, you
will have the freedom to redecorate your
home as you wish. You will only need
our permission if you want to make any
structural alterations or significant changes.
So, whether it’s repainting your walls or
displaying your favourite artwork to bring
colour and vibrancy to the space, a shared

ownership home grants you the flexibility
to decorate as you please. It’s your personal
canvas to customise.
As with any home, there are some
restrictions you should consider.
Undertaking substantial projects like
installing a new kitchen or extending your
property may have implications on your
home’s valuation, meaning you should
always consult your housing provider
before going ahead.
Our key advice for any first time buyer
would be to take your time and do your
research into homes that fit your criteria so
that you understand all the requirements
and permissions that may apply.
Visit our website for full details
about making your adjustment to your
Origin home: originhousingsales.co.uk/
help/#1632139978518-ceff6ace-b23e
Simon Scott
*Pricing starts from £81,250 for a 25% share of a one
bedroom apartment (full market value: 325,000) with
deposits from £4,469.
**For more information about Origin Kickstart and Harrow
and Wealdstone Heights, please visit our website
originhousingsales.co.uk

First Time Buyer April/May 2024

Buyers’ guide
FTB EXPLAINS ALL THE OPTIONS TO HELP FIRST TIME BUYERS

Your options
What are your funding options if you
want to get on the housing ladder?
FIRST STEPS

ARE YOU ELIGIBLE
FOR A GOVERNMENTBACKED SCHEME?
The Government backs several
schemes to help people get on the
property ladder. The best known is
shared ownership which is open to
people with a household income of
up to £80,000 (£90,000 in London).
More details are below.

BUYING ON THE
OPEN MARKET
Many people buy property on the
open market. Homes are offered for
sale by estate/sales agents or from
private developers or housebuilders.
On new build developments there is
usually a show home you can look
around and a sales adviser, based
on site, to answer your questions.
To buy on the open market, you will
need a mortgage deposit of at least
5% to 10% of the full property value.

BUYING A NEW
HOME OFF-PLAN
Demand for new homes often
outstrips supply; this means that new
homes are often reserved before their
construction is complete, sometimes
several months before they are built
and finished. This is called “buying
off-plan”. Most providers market and
sell their homes in this way. Do some
careful research to make sure the
home you reserve is the right one for
you, especially as you may not have
an opportunity to physically view
inside it before your commitment to
buy it becomes a legal obligation.

PRIVATE INITIATIVES
Some builders offer incentives
on new build homes such as
cashback, legal fees or help with
moving costs. You could also try
to negotiate for upgrades to
specification items like floorings or
kitchen appliances.

FUNDING OPTIONS

S AV I N G O P T I O N

G O V E R N M E N T A N D P R I VAT E S C H E M E S

Help to Buy: Equity Loan/Deposit Unlock
Equity loans through Help to Buy are no longer available; they ended
in October 2022. The Home Builders Federation (HBF) together with
some housebuilders and mortgage lenders are offering a new scheme
called Deposit Unlock as an alternative. This helps first time buyers to
buy a new home with a 5% mortgage deposit. More information is
available at hbf.co.uk/deposit-unlock

Shared ownership/part-buy, part-rent
The Government-supported shared ownership scheme is available
for people with household incomes up to £80,000 (or £90,000
if buying in London.) Shared ownership homes are always
leasehold. With this scheme, you buy a share in a property and
pay rent on the rest. Rent is calculated at 2.75% (sometimes less),
with annual increases of RPI + 0.5%. The amount of share that you
buy is calculated based on your affordability. On many shared
ownership homes the minimum is 25% (but could be higher). On some
homes, you can buy a lower share starting from 10%, but these are
not widely available at present. The mortgage deposit you’ll need to
buy with shared ownership is calculated on the share value; this works
out at a lot less than if you were buying outright. Shared ownership
homes can be new build or resales, apartments or houses across
many parts of England.
If you buy a home with shared ownership, you will be given the right
to buy more shares in the future. This is called staircasing. In most
cases, you can buy shares up to 100% of the property and own it
outright. When you buy more shares, these are valued at the market
value at the time. Because house prices tend to rise over periods of
time, it is a good idea to think about staircasing at an early date.

First Homes
This scheme offers first time buyers discounts of 30-50% on certain
new build homes. Local authorities may limit these to key workers or
those who live or work in the area. When the home is sold it must be
to another eligible first time buyer at the same percentage discount.

Rent to Buy

The Lifetime ISA (LISA)
is a long-term savings
product intended
to support younger
people aged between
18-39, resident in the
UK, saving for their
first home, or for later
life. Up to £4,000
can be saved each
year, attracting a
government bonus of
25% on each new
payment. Funds can
be withdrawn without
charge 12 months
after opening the LISA,
if used as a deposit for
the account holder’s
first home, subject to
certain conditions. The
property value must be
under £450,000.

FUNDING
OPTIONS
BUYING ON THE
OPEN MARKET
& P R I VAT E
I N I T I AT I V E S
To buy on the open market
or from a house builder
you’ll need to get a
mortgage from a bank or

This scheme allows you to rent a new build property for up to five
years and pay a redued rent while you save for a deposit. It is not
widely available, however.

other mortgage lender. To
do so you’ll need to save
a deposit and meet the
provider’s lending criteria.

Right to Buy
The Right to Buy scheme helps eligible council and housing association
tenants in England buy their home with a discount of up to £87,200
(£116,200 inside London). You probably have the Right to Buy if
you’re a secure council tenant and have spent at least three years as a
public sector tenant. Some properties are exempt.

Older People’s Shared Ownership (OPSO)
This is designed for people aged 55 and over. Scheme specific
details vary, so check with the housing association provider.

Home Ownership for People with
Long Term Disabilities (HOLD)
HOLD is a specialist option to help people with long term disabilities
live independently in a shared ownership property where, in some
cases, repairs and maintenance services are offered by the provider.

Other options
There are a few less well-known Government-backed schemes; more
details can be found at ownyourhome.gov.uk

First Time Buyer April/May 2024

BUYERS’ GUIDE

The ftb process
TIPS

APPLICATION
You will need at least three
months of bank statements,
payslips or tax returns, photo ID
such as a passport or driving
licence and details of any
loans. Lenders will look at your
outgoings to assess how much
you can afford to pay on your
mortgage each month. The
bigger deposit you have and the
better your credit score, the better
mortgage rate you’ll be offered.

BUDGET
Work out how much you can
afford to repay each month,
taking into account your normal
living expenses and the bills,
insurance and council tax on
your new home. Don’t forget
there is likely to be a service/
estate management charge on a
new home, plus ground rent for
a leasehold property, so find out
how much they will be.

CREDIT SCORE
Get a credit report from Experian
or Equifax, and make sure there
are no default accounts, CCJs
(county court judgements) or
missed payments. If you are
making lots of enquiries to find
the best deal, make sure the
lenders log your enquiry as a
soft search rather than a hard
search as too many applications
leave “footprints” on your credit
score and can affect your rating.
To improve your score, make
sure you’re on the electoral roll,
and pay your bills and any loan
repayments on time.

FINANCE

94 First Time Buyer April/May 2024

Buying your first property can be a
daunting experience. It’s a big decision, so
it’s important to get it right. We take you
through all the steps involved

moneysavingexpert.com, then apply directly
to your chosen lender.

Unless you have
enough money
to buy a property
outright you’ll
need a mortgage. A mortgage is a loan used
to buy a property and is repayable over a
number of years (usually 25-35 years). The
loan is “secured” on the property, which
means the mortgage lender could repossess
your home if you fail to make repayments
on time. For this reason, it’s vital only to buy
a property you can realistically afford.
Before you start, find out how much
money you can borrow. A mortgage adviser
will need details of your income, outgoings,
savings and credit history – they will
then be able to give you an “agreement in
principle”, which will state, in theory, how
much they will be able to lend you. An
agreement in principle, however, doesn’t tie
you, or the lender, to anything. Instead, it
will just give you a rough idea of how much
money you’ll be able to borrow.
You’ll also need a deposit, normally around
10% of the property price. The bigger the
deposit, the better the mortgage rate you’ll be
offered. Each mortgage product will have a
maximum loan-to-value or LTV.

inance

FIXED-RATE MORTGAGES
Some mortgages are fixed rate. This means
you’ll pay the same rate of interest for a
defined period of time, and your payments
won’t change. If interest rates go up, you’ll
be protected from the increase, but you
won’t benefit from any fall in interest rates.
Normally, at the end of the fixed period your
mortgage rate will revert to the lender’s
standard variable rate (SVR) for the rest of
the term. You can either pay this rate (which
is often quite expensive) or remortgage to
another lender. Remortgaging to another
lender can sometimes mean you have to pay
a fee or early redemption charge (ERC).

VARIABLE-RATE MORTGAGES

MORTGAGE BROKERS VS LENDERS
You can apply for a mortgage via a
mortgage broker (or financial adviser) or
direct from a lender. A broker can look at
the deals available and advise you which
one would be best for your circumstances.
Some mortgage products are only sold
through brokers, not directly to customers.
A broker will help you with the
paperwork and deal with the lender on your
behalf up until completion. You may have to
pay them a fee or they may earn commission
from the lender – find out how they are paid
before committing to anything.
Mortgage advisers in banks or building
societies can only sell you products offered
by that company, so it’s unlikely they will
be able to offer you the very best deal for
your circumstances. It’s important to shop
around. You can compare mortgages online
at sites such as moneysupermarket.com or

SET A BUDGET

CREDIT SCORE

SHOP AROUND

Work out how
much money
you have for
fees, deposit
and the monthly
mortgage you
can afford.

Make sure your
credit rating is
sound and there
are no mistakes
on your file,
and pay off any
debts you can.

Speak to a
mortgage
broker, but also
look at lenders’
direct products
and search the
internet.

Variable-rate mortgages are either linked
to the lender’s SVR or the Bank of England
base rate, and the rate you pay can change.
Lenders can change their SVR whenever
they want, but they normally only change
it when the Bank of England base rate
changes. Tracker mortgages are also
variable, but they have repayment rates that
are directly linked to the base rate so will
go up and down with it. With variable-rate
mortgages you need to be sure you could
afford higher repayments if rates rise.

REPAYMENT OR INTEREST-ONLY
Most mortgages available to first time buyers
are on a repayment basis. With this type of
mortgage, every monthly payment will pay
off some interest and some capital (mainly
interest in the early years). At the end of the
term, you’ll own your home outright.
If you have a larger (25% or more)
deposit you may be offered an interest-only
mortgage, where you only pay interest on
the loan. The monthly repayments are lower
but at the end of the term you’ll still owe
the original mortgage sum. You’ll need to
prove you have a plan in place (such as an
investment) to pay off the capital.

RESEARCH

DECIDE ON A
LOCATION

RESEARCH
THE AREA

Be practical.
Think about the
commuting time
and whether you
can afford to
buy in the area.

Check out
crime statistics,
transport links,
regeneration
and, if relevant,
schools.

BUYERS’ GUIDE

TIPS

RESEARCH AN AREA

Buying a property
is a big investment.
horough
You need to make
research
sure you buy a
home that you can
afford and one you will be happy living in.

Check online for prices of sold
properties in the area, and
make sure properties you like fit
your budget. You can search for
recent sold prices of property in
any area at nethouseprices.com,
and also on property portals like
rightmove.co.uk/zoopla.co.uk.

sometimes a video. Also, sign up with as
many local estate agents as you can. They
should send you new properties that match
your description, but it’s worth phoning
them regularly. If you’re looking for a
shared ownership property, search online at
sharetobuy.com and propertybooking.co.uk.

Aerial shots of an area can be
viewed at google.co.uk/maps;
switch to “satellite view”.

LOCATION IS KEY
VIEWING
The first step is to shortlist the locations you
feel you’d like to live in, then check if you
can afford the house prices in those areas.
It’s also worthwhile visiting places you like:
it may be that there’s an up-and-coming
hot spot just down the road you didn’t
know about that’s much more affordable.
Ideally, you will have rented in the area
before buying, but if this isn’t the case, at
least spend some time there, check out the
commuting time to work, and look at local
pubs, shops and leisure facilities. Visit the
area at night, too.

Once you see a property you like, arrange
a viewing. Most people see at least 10
properties before putting in an offer. It’s
worth bringing a friend or relative and also
arranging a second viewing to check out any
bits you may have missed. Don’t get taken
in by the furnishings and decor too much.
Remember that a property that is slightly
run down can still be a great investment
and may only need a touch of paint and a
change of furniture.

Before you put in an offer, visit
the street at different times of the
day and night. You could also
ask neighbours and local shop
owners about the area.

BEFORE YOU BUY
When looking at buying
apartments, check exactly what
is included in the service charge
and how much it is. Also, ask
about the terms of the lease and
its length. If the lease has less
than 80 years left, use this as a
negotiating tool and make an
offer below the asking price.

ESTATE AGENTS
PROPERTY SEARCH
Once you have found the right location,
go online and check out what’s on offer.
Most homes are listed on property portals
such as rightmove.co.uk, onthemarket.
co.uk, or zoopla.co.uk, plus estate agents’
websites. Properties featured have
pictures, descriptions and a floor plan, and

It’s a buyers’ market, so make use of
agents’ legwork in finding properties that
fit your requirements. Be aware that estate
agents are paid commission by the seller
on the sale, so try to inspect the property
yourself rather than just the parts the
agent shows you. Don’t get sucked in by
the hard sell.

VIEWINGS

OFFER

Look at several
properties, and
visit ones you
like more than
once and with
someone else.
Take a checklist.

If the market is slow,
when making an offer,
don’t be afraid to offer
less than the asking price.
If the property needs
work done, you can use
this as a negotiating tool.

BUYING

SURVEY

SOLICITORS

SEARCHES

Make sure you
have a survey
– it could save
you money in
the long run
by spotting
any problems.

Compare quotes from solicitors,
and ask your friends who they
recommend. A good solicitor can
make a big difference to whether
a purchase completes or falls
through. Online companies can
be cheaper but are less personal.

Look at the results of
searches your solicitor
has done. They will tell
you, for example, if a
main road is about to
be built at the end of
your garden.

First Time Buyer April/May 2024

BUYERS’ GUIDE

SURVEYS AND
VALUATIONS

BUYERS’COSTS
uying
process

Once your offer
is accepted, tell
your mortgage
lender. They will do a valuation to ensure
the property is worth the money being
advanced. At the same time, instruct a
surveyor to carry out a survey. If this
shows problems, find out how much
they would cost to rectify and use this
information to renegotiate the sale price.
Or, tell the seller certain repairs need
to be carried out before contracts are
exchanged.

SOLICITORS

TIPS

A QUICK SALE
Push the seller to take the
property off the market. This
will limit the chances of being
gazumped (another buyer
making a larger offer). The seller
can insist on continuing to show
the property, especially if you
haven’t offered the asking price.
Use a recommended solicitor
who you know to be reliable
and who can move fast.
Never get pressured into an
exchange and completion date
without knowing all your finances
and documents are in place. If
you can’t complete, you may
have to pay the seller’s costs.
English property law is different
to Scottish law: in England, if
you put in an offer and then
have a change of heart, you can
legally back out of the deal or
negotiate up until the exchange
date. But, in Scotland, an
agreed price is binding.

After the offer is accepted, you will also
need to appoint a solicitor or conveyancer
who will oversee the contract, deal with
the finances and exchange the deeds.
Your solicitor will carry out searches,
check the terms of any lease and
restrictive covenants and tell you how
much Stamp Duty you have to pay. The
seller will also appoint a solicitor, and
the two legal teams will be in regular
contact to make sure the purchase goes
as smoothly as possible.

EXCHANGE AND COMPLETION
Once the mortgage offer is in place, the
contract is satisfactory and buildings
insurance has been organised, both
parties will agree an exchange date. You
will sign the contract with your solicitor,
and at the point of exchange of contracts,
you pay a deposit and a completion date
is set. At this point, there’s no going back
– the seller could sue you if you pull out,
and you could lose your deposit. The
completion date is usually around a week
to 10 days after exchange, but can be
done on the same day. On completion, the
final paperwork is done, and the property
is legally yours.

£1000-£1,800

LOCAL AUTHORITY SEARCH FEES (ESTIMATED)
£150-£300

LAND REGISTRY FEES:
Scale 1 fees relate to the registration of both new builds and resale
properties for monetary consideration.
Apply using the portal or Business Gateway, for transfers or surrenders
which affect the whole of a registered title
For a purchase of £0 - £80k £20.00
For a purchase of £80,001-£100k £40.00
For a purchase of £100,001 - £200k £100.00
For a purchase of £200,001 - £500k £150.00
For a purchase of £500,001 - £1,000,000 £295.00
For a purchase of £1,000,001 and over £500.00
Apply using the portal or Business Gateway, for registration of all
leases and transfers or surrenders which affect part of a registered title
For a purchase of £0 - £80k £45.00
For a purchase of £80,001-£100k £95.00
For a purchase of £100,001 - £200k £230.00
For a purchase of £200,001 - £500k £330.00
For a purchase of £500,001 - £1,000,000 £655.00
For a purchase of £1,000,001 and over £1,105.00

STAMP DUTY LAND TAX (SDLT) (UNTIL 31/09/2022):
Up to £250,000 Zero
The next £675,000 (the portion from £250,001 to £925,000) 5%
The next £575,000 (the portion from £925,001 to £1.5 million) 10%
The remaining amount (the portion above £1.5 million) 12%
In October 2022 you buy a property for £295,000. The SDLT you owe
will be calculated as follows:
0% on the first £250,000 = £0
5% on the final £45,000 = £2,250
Total SDLT = £2,250

OTHER FEES TO CONSIDER (ESTIMATED, DEPENDENT ON
CIRCUMSTANCES):
MORTGAGE ARRANGEMENT FEE
Expect to pay a fee of at least £1,000 to secure an attractive rate. But
some can be £2000+
The lender will usually offer you the option to pay the arrangement fee
upfront, or you can add the fee to the mortgage. The disadvantage of
adding the fee to the mortgage is you’ll pay interest on it, as well as the
mortgage, for the life of the loan. But if you pay the fee upfront, there’s
a chance you could lose it if anything went wrong with the purchase.

MORTGAGE VALUATION
Typically, around £300-£600, but can be significantly more

MORTGAGE BROKER’S FEE
£0-£500 usually paid at mortgage application

BUILDINGS INSURANCE
Estimate £200-£300 annually – The price depends on the cover you
require and your excess. The building insurance is calculated based
on the cost of rebuilding your home is known as the ‘buildings sum
insured’. It’s important to know that there’s likely to b a difference
between your home’s market value and the cost of rebuilding your
home.

TIME SCALE
GROUND RENT (LEASEHOLD ONLY) & SERVICE CHARGES

From offer to completion usually takes
about six weeks to three months, but
don’t feel pressured or rush into anything
you’re not sure of just because the seller
or estate agent wants you to exchange.

INSURANCE

REMOVALS

COMPLETION

You must have
buildings insurance in
place for when you
exchange contracts
(not complete). This
will be a condition of
your mortgage offer.

Shop around for a
removals firm, and
find one that can move
your possessions on
completion day. You
could also look at van
hire to do it yourself.

our solicitor or estate agent will
Your
call you to tell you the property
is yours. The solicitor will have
work to do, and
some final paperwork
you will then have to pay the
solicitor’ss bill and your Stamp
Duty payment (if applicable).

96 First Time Buyer April/May 2024

SOLICITOR’S/CONVEYANCING COSTS (ESTIMATED)

£700-£4,000 annually
If you own a long lease on a property in England and Wales you will
normally have to pay rent to the freeholder or landlord of the property;
this is known as Ground Rent. The lease will normally specify how
much rent you have to pay and when it has to be paid. The ground
rent can be a fixed sum for the length of the lease, or the lease can
provide for the ground rent to increase over the course of the lease.
Service charges vary based on the building and the services provided. A
building with concierge service, numerous lifts can be very expensive.
You should go through the service charge costs with your solicitor.
These are audited and the price paid changes annually generally in
April. New freehold homes may also have service/estate charges for
maintenance of communal areas.

REMOVALS (IF REQUIRED)
£500-£2,500

BUYERS’ GUIDE

Home buying
glossary
Confused by financial acronyms and industry terminology?
Buying your first house is daunting enough without having to
decode property lingo. FTB’s homebuying glossary is here to
make the process a whole lot easier to understand
AGREEMENT IN PRINCIPLE

DISBURSEMENTS

The initial document that a lender will
give you outlining the amount you are
likely to be lent if you applied for a
mortgage. An agreement in principle is
not a guarantee of getting a mortgage.

These are additional charges
incurred during the homebuying process
such as Stamp Duty and Land Registry
charges. You must give the money to your
conveyancer or solicitor who will then
pay the charges on your behalf.

APR
APR stands for annual percentage rate.
It is the interest rate you’d pay over a
year. It takes into account not just the
interest on your loan but also any other
additional charges.

EARLY REPAYMENT CHARGE

ARREARS

EQUITY

This is a term used to describe payments
that haven’t been made on time.

The difference between the value of the
property and the value of the mortgage
you have secured.

This is an amount of money you may
have to pay a lender if you decide to
move mortgage provider or if you pay off
your mortgage quicker than expected.

BASE RATE
The interest rate set by the Bank of
England. Lenders usually use the Bank
of England base rate to set their own
interest rates.

EXCHANGE OF CONTRACTS
This is when you exchange contracts
with the seller. When this has happened,
both sides are legally bound to complete
the transaction.

BROKER
A broker is someone who gives you
advice on your mortgage. Some are
independent, while others work for
particular lenders.

FREEHOLD
A freehold is when you fully own a
property and the land it stands on.

A survey carried out by a qualified
surveyor to spot any structural problems
or faults in the home you are buying.

When a seller accepts an offer and then
later on rejects it in favour of a higher
offer from another bidder.

GUARANTOR
COLLATERAL
Something of value that is offered as a
guarantee against a loan. With mortgages,
your home is collateral.

COMPLETION
The finalisation of the sale. Completion
day is when the paperwork is complete,
all money is transferred and you become
the legal owner of your new home.

CONVEYANCING
The legal process of transferring
ownership of a property.

This is a fee you have to pay in order to
register your ownership of the property
with the Land Registry.

LEASEHOLD
A type of tenure where you buy the right
to occupy a property for a fixed period
of time. You usually have to pay annual
ground rent each year.

LTV
This stands for loan to value – the ratio
between the amount of money you have
taken out as a loan and the valuation
price of the property.

LUMP-SUM REDUCTION
In order to reduce your mortgage, you
can make a lump-sum reduction. This is
where you pay more than you owe each
month in mortgage repayments.

REDEMPTION
GAZUMPING

BUILDING SURVEY

LAND REGISTRY FEES

A person, usually a parent, who
guarantees that you can pay your mortgage
repayments. You often need a guarantor
if you are struggling to get a mortgage
based on your own income. If for some
reason you cannot pay your mortgage, your
guarantor has to pay it for you.

Paying off your mortgage in full is known
as redemption.

REPAYMENTS
The amount you have to pay back each
month to your mortgage provider

STAMP DUTY
Stamp Duty is a shortened name for
Stamp Duty Land Tax, also called SDLT.
This is a Government tax you may
have to pay when you purchase a new
property. Your solicitor or conveyancer
will organise the payment for you.

HIGHER LENDING CHARGE
If you take out a large mortgage on
a property, some lenders may charge
a one-off extra fee. This funds an
insurance policy that protects the lender
(not you) from the additional risk.

TITLE DEEDS
The legal documents that outline your
rights and liabilities in relation to your
new property. The title deeds also act as
proof of ownership.

First Time Buyer April/May 2024

LEGAL

The conveyancing process
for staircasing and resales
Shared ownership is a great option for those looking to take their first steps into
homeownership. Coralie Phelan, Partner and Head of Resales and Staircasing at
Prince Evans Solicitors, looks at the conveyancing process for Resale Purchase
and Staircasing

BACKGROUND – WHAT IS
SHARED OWNERSHIP?

9 You will be required to purchase the
maximum share you can afford.

HOW DOES SHARED
OWNERSHIP RESALE WORK?

Shared ownership allows you to buy a home
through the shared ownership scheme if
you meet the eligibility criteria. You buy a
share of the property and pay rent on the
part you do not own.
The eligibility requirements for the
scheme are as follows:
9 You must have a combined annual
household income of under £80,000, or
£90,000 in London
9 You must not own or part-own another
property on completion
9 You cannot afford all of the deposit and
mortgage payments for a home that
meets your needs.

WHAT ARE THE ADVANTAGES?

9 You can purchase a share of the
property, usually between 10% and 75%
subject to eligibility criteria
9 You pay rent to the housing association
on the percentage you do not own
9 You will have to a pay a service charge
to cover any shared services or
estate maintenance
9 You will not be able to rent out or sublet
until you own 100%
9 Your lease will outline your repair and
maintenance responsibilities
9 The lease will provide for annual
upwards-only rent increases.

9 Low deposit – this could be 5% rather
than the traditional 10% of the purchase
price if agreed
9 Your landlord will be under an
obligation to act responsibly and ensure
it only allows you to purchase the
property if you can afford to keep up
with the repayments on your mortgage
and the rent you pay it and other
associated outgoings. This is due to the
scheme being Government-backed with
the associated reassurances that there
are certain rules that your Landlord
must abide by.

NEXT STEPS
9 You will need to meet the scheme’s
affordability criteria
9 You need to apply for a mortgage
(unless you are a cash buyer)

98 First Time Buyer April/May 2024

You can then decide whether resale shared
ownership is right for you.
Resale shared ownership being a
pre-loved property with the seller already
in occupation.

WHAT ARE THE ADVANTAGES
OF RESALES
9 Resale properties are often more
affordable than new build
9 The rent may be less on a resale
property than on a new one

LEGAL

9 You will be moving into an already
established neighbourhood
9 Older buildings may have original
features that are appealing.

WHAT’S THE LEGAL PROCESS
FOR A RESALE PURCHASE?
The resale conveyancing process at a glance:
9 Instruct your conveyancer – you
and the seller will need to instruct
separate conveyancers. It’s advisable
to obtain at least two or three quotes.
Once instructed, your conveyancer will
request certain information and you will
need to fill out initial questionnaires
and provide evidence of your identity
and source of deposit by way of bank
statements and other evidence.
9 Contract papers – your conveyancer
will confirm instructions with the
seller’s solicitor and request draft
contract papers. The seller’s solicitor
will supply the draft contract papers
consisting of the draft contract,
transaction or sales forms and other
supporting documents such as the lease
and planning consents or warranties
relating to the original construction of
the property.
9 Title investigation – once your
conveyancer receives the draft contract
pack, the papers will be reviewed and
enquiries raised to ensure you receive
a good and marketable title to the
property. Your conveyancer will use
the title plan to order searches, which
usually consist of a local authority search,
a drainage search, an environmental
search and a chancel check.
9 Mortgage – your conveyancer acts for
both you and your lender and will both
review your mortgage offer and report
to you on the terms. The title review is
also for the benefit of your lender.
9 Report on title – your conveyancer will
prepare your report on title once they
have the results of your searches and
replies to enquiries. This report is the
most important document of all and will

explain the terms of the contract and
lease and supporting documents. You
will be invited to sign the contract once
you have read the report. You will be
asked to pay your deposit at this stage.
Exchange of contracts – once you have
signed the contract, all parties in the
chain can discuss a completion date
and you will be asked to provide your
authority or consent to exchange of
contracts. Once exchanged, the contract
becomes legally binding and the
completion date fixed.
Completion – your conveyancer will
send you a completion statement
between exchange and completion and
collect in the balance of funds due from
you in order to complete your purchase.
After completion – your conveyancer
will apply to the Land Registry to
register your ownership.
You can then consider staircasing in
the future.

WHAT IS STAIRCASING?
Once you have owned your property for
a certain period of time (as specified in
your lease) you can consider purchasing
additional shares or staircasing.
Staircasing is the process of buying
additional shares in the property you own
with a corresponding reduction in specified
rent. You are basically purchasing more
equity in your home.
There a number of advantages to
staircasing as follows:
9 Most leases allow you to purchase 100%
of your home
9 You may benefit from more mortgage
choices as you are not limited to shared
ownership products
9 It may be easier to sell the larger the
percentage owned
9 You have increased security with
more equity
9 You pay less rent
9 The greater the percentage owned, the
more you benefit from any property
price uplift

9 You can sell your property on the open
market once you own 100%.

WHAT’S THE LEGAL PROCESS
FOR STAIRCASING?
First Stage – financial assessment.
9 You may wish to consider staircasing
when your current mortgage deal comes
to an end
9 You will need to have your finances
assessed to see if you can afford to
purchase additional shares.
Second Stage – arrange a valuation.
9 Once it has been established that the
transaction is affordable you can then
liaise with the housing association to
arrange a valuation
9 You usually have 12 weeks to complete
before the valuation expires.
Third Stage – instruct a solicitor.
9 Once the valuation has been arranged
you should then instruct a conveyancer
who specialises in staircasing such as
Prince Evans Solicitors
9 The housing association’s solicitor
will issue the draft memorandum of
staircasing to your conveyancer.
Fourth Stage – review the memorandum
of staircasing.
9 The memorandum of staircasing is the
document that records the purchase of
the additional shares
9 Your conveyancer will check the terms
of the memorandum and then report
to you regarding the terms and enclose
the memorandum to sign
9 If you are remortgaging, your solicitor
will also deal with the remortgage
element and ensure all your lender’s
requirements are met.
Fifth and Final Stage
9 Once you have signed the documents
your solicitor can fix a completion date
9 Your solicitor will then produce
your final invoice for payment
before completion
9 Your solicitor will deal with the postcompletion requirements including
registering the Memorandum at the
Land Registry.

FINAL THOUGHTS

If you are interested in a quotation for Shared Ownership Conveyancing, the Resale and Staircasing
team at Prince Evans are on hand to provide a friendly no obligation quotation at
rst@prince-evans. co.uk or 020 8567 3477

In summary, the process for both
resale purchase and staircasing can be
successfully navigated with the correct
advice from a conveyancer specialising in
this area.

First Time Buyer April/May 2024